Warsaw (Puls Biznesu) – Depreciating zloty, bad quarterly results of TPSA telecom and weak beginning of trade in the USA made the WIG20 index fall 1.14 percent on Thursday. Only 1.2 percent more and the pitfall reached in January of 1,833 points will be reached. Although the volume of trade was not very high and amounted to PLN 376 m (EUR 88.7 m), it was 23 percent more than on Wednesday, which shows growing trend.
TPSA’s net income fell nearly 20 percent, which was expected but sales of PLN 4.44 billion were an unpleasant surprise because analysts thought it would be PLN 4.61 billion. The company lost over 2 percent. PKN Orlen fuel giant and KGHM copper producer followed suit and shed, too. Only four smaller companies of the blue chips index rose, including Softbank, Debica, Mondi and BZ WBK. Among smaller companies, Ivax jumped after the company said it increased sales in the first quarter by 15.6 percent to USD 491.6 m.
(PLN 1 = EUR 0.236)Poland/Stock market report