Warsaw (Puls Biznesu) – WIG20 ended 2.04 percent up despite decreases noted by leading European markets. The volume of trade was not high, however and slightly exceeded PLN 1bn.
Fuel companies paced the advances. Grupa Lotos published better than expected quarterly results and raised its forecast. PKN Orlen, whose income was lower than expected, increased sales and promised to announce its strategy for the years 2007-2012 next week. This was enough to encourage investors. More and more companies were joining the upward trend during the day. PKO BP and Pekao rose 2.9 percent each. KGHM copper producer did a little bit worse than the market while TP telecom which lost 0.8 percent to PLN 22.5. GTC homebuilder jumped 6.8 percent to PLN 51 on record third quarter results and a promise to increase its portfolio of lots by fivefold. CEZ lost 1.9 percent to PLN 177.5 for the worst performer among blue chips. The stock has lost over 7 percent since November 7th.
In the afternoon, small- and mid-caps also started
to rebound. mWIG40 and sWIG80 ended just slightly down.