Telecoms stock yesterday pulled the Warsaw stock market down. The WIG20 lost one percent to fall to 1,224 points and the WIG lost 0.5 percent to fall to 13,949 points.
Elektrim lost a further 22 percent of its value as the company suggested in a press release that it would be unable to meet its EUR488m in debt. This is a clear signal from the horseís mouth that bankruptcy is possible. Trade in Elektrim shares made up for more than forty percent of all stock.traded. Some 10.4m shares of the company changed hands as the value plunged to an all time low of PLN9.40. Fellow struggler Netia also hit its record rock bottom of PLN3.80 losing a further 13 percent of its value yesterday.© ℗
Podpis: Alan Heath