High oil prices support fuel companies growth
opublikowano: 24-01-2006, 19:43
Warsaw (Puls Biznesu) – The Tuesday session did not end well to shareholders although till the eleventh hour it seemed that indices could reach new records. Some of them did but main indices fell or gained only slightly.
Warsaw (Puls Biznesu) â€“ The Tuesday session did not end well to shareholders although till the eleventh hour it seemed that indices could reach new records. Some of them did but main indices fell or gained only slightly.
WIG lost 0.07 percent while WIG20 gained only 0.12 percent. Small companies throve and WIRR and MIDWIG beat their all-time records. In the morning, all indices were growing but they suddenly dropped in the afternoon. No wonder, similar twists are noted in Asian and U.S. markets. Last Wednesday, when Tokyo indices dived, WIG20 opened 2 percent down. The Wednesday session will be influenced by politicians. The Parliament will vote the budget for the year 2006. If they reject the bill, zloty and stock exchange will decrease. If the bill is approved, which is widely expected by the market, no substantial changes in the stock market are expected. New York and Asian markets will be more important tomorrow.
On Tuesday, fuel companies were most traded ones. PKN Orlen giant traded advances. Shares worth PLN 217m (EUR 56.4m) changed hands and gained 2 percent. So did Grupa Lotos, the second largest fuel company. Both gained on high oil prices. Bioton insulin producer was hardly rising in the morning but then fell nearly 3 percent. Shares worth PLN 120m changed hands. Banks had a bad day today. Pekso, PKO BP and Bank BPH were all day trading down. Only the smaller banks among the WIG20 companies, including BZ WBK or BRE Bank managed not to fall.
Speculative capital raised shares by PC Guard (18 percent), LZPS Protektor, Gant or Kompap.
(PLN 1 = EUR 0.260)
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