Investors on the Warsaw stock market had little cause to celebrate yesterday. Supply yesterday was much greater than demand with the result that the main indexes lost more than one percent although turnover was very low.
Falls in stock prices across the world failed to miss Warsaw. If that were not enough the cost of futures on American markets also took a plunge.
The IT and telecoms sectors were the most hit in Warsaw. Amongst blue chip companies the most hard hit were the two companies formed from the division of Nowy SÄ…cz based IT firm Optimus. The reason for this could be the unclear way in which the company was divided into separate hardware and software businesses.
Softbank also noted a bad day due to a new issue which is now being traded and fears that results may be much worse than planned.