Indices grow in the stock market

APA - Austria Presse Agentur
opublikowano: 02-06-2005, 17:55

Warsaw (Puls Biznesu) – WIG20 rose 1.42 percent to 1,921.63 on Thursday. It did not manage to exceed the barrier of 1,930 points. Thanks to good Wednesday session in the Wall Street and the fact that the Polish currency was appreciating against euro and dollar since the morning, WIG20 jumped over 1,900 at the beginning of the session already.

Warsaw (Puls Biznesu) – WIG20 rose 1.42 percent to 1,921.63 on Thursday. It did not manage to exceed the barrier of 1,930 points. Thanks to good Wednesday session in the Wall Street and the fact that the Polish currency was appreciating against euro and dollar since the morning, WIG20 jumped over 1,900 at the beginning of the session already. Another positive signal was sent by Jacek Socha, Poland’s Minister of Treasure who decided to postpone the IPO of PGNiG, the country’s gas monopoly till September. This means that investors may invest in the stock market their funds withdrawn in preparations for the big IPO.

Bad news for the stock market are troubles of Miroslaw Gronicki, Poland’s Minister of Finance. Politicians appealed to him to withdraw the plans to raise excise duty for heating oil or they would not give him a vote of confidence. Also Thursday U.S. unemployment data may tomorrow deteriorate the Polish stock market. The number of new unemployed people turned out to be much higher than expected.

Good moods, however, encouraged investors to buy blue chips, especially KGHM copper producer. Minister Jacek Socha said the company could afford to pay out higher dividend. Copper price was growing in London. The company advanced 5.1 percent today, while shares worth PLN 95 m (EUR 22.9 m) changed hands. PKN Orlen fuel giant was the worst performer. It shed 0.2 percent today, while shares worth as much as PLN 100 m changed hands. PKO BP and Pekao banks added less than the index, while BPH and BRE Bank – more.

(PLN 1 = EUR 0.242)Poland/Stock market report

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Podpis: APA - Austria Presse Agentur

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