First week ends down on the Warsaw Stock Exchange

05-01-2007, 20:42

Warsaw (Puls Biznesu) – The first week of January was very weak although the first session of the year was promising.

Warsaw (Puls Biznesu) – The first week of January was very weak although the first session of the year was promising.

 

In the last four days, the WIG20 index dropped 2.54 percent. Friday was the worst day. The 20 share blue chips index lost 2.28 percent to 3,202.15 points. Small and medium-sized companies did better. WIRR lost only 0.2 percent while MIDWIG ended 0.05 percent up.

 

KGHM ended the downward trend after copper prices rose in London for the first time in a week. The stock of the copper producer rose 0.8 percent to PLN 80.05 while shares worth PLN 284m changed hands. The following blue chips also managed to grow: Agora, Bioton, Prokom and Polimex. However, four times more companies ended down. Fuel companies were among the worst performers. PKN Orlen, MOL and Lotos dropped 2.4-3.6 percent. TP telecom dived 3.9 percent to PLN 23.26 on the possible fines from electronic telecommunication authorities UKE.

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