Even worse

Alan Heath
06-09-2002, 00:00

Yet another bad day on stock markets across the continent in which the London FTSE fell once again below the 4,000 point barrier as the United Kingdom, France and Germany all took a knock in excess of two percent. Once again it was tech stock that took the brunt of the barrage in Poland and the technical index fell to its lowest point ever. The only technical stock that increased in price was Softbank but given the depth of its fall on Wednesday, it was obvious that it could not get any worse. Elektrim, once one of the investors‚ favourites, a stock that reached almost PLN80 two years ago, hit a new all time record low as bankruptcy seems to be the certain. The WIG20 index lost 1.2 percent to fall to 1,039 points and the WIG lost 0.7 percent to fall to 12,770 points. The question now to be asked is if the market is strong enough to avoid falling to its lowest point reached last October. On the face of current performance and global feeling, the answer would have to be negative. The only saving grace on today‚s performance is the fact that turnover was very low, the third most traded stock was Softbank with PLN3.5m in sales!

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