Investment funds boost the WSE

MG
09-10-2007, 21:24

Warsaw (Puls Biznesu) – Fresh capital flew into the Warsaw Stock Exchange unexpectedly. WIG20 rose 2.97 percent to 3,856.61 points, the highest level since July 24th.

 

It is only 1.11 percent below its all-time record. The increase was very surprising. The WSE had been losing recently while the volume of trade had been low. Yesterday, blue chips worth only PLN 720m changed hands. Today, the volume of trade was three times higher.

Meanwhile, world markets were not doing extremely well. The reason for today’s developments in Warsaw may be Polish investment funds. They restructured their portfolios. In September, the Poles paid into the funds PLN 1.7 billion against PLN 360m a month earlier.

 

The future situation may depend on the US markets. The quarterly reports season is launching. In addition, the FOMC minutes will be published soon. Investors will try to guess from them whether another interest rate cut is coming this month. If so, they will go shopping.

 

As usually when blue chips attract investors’ attention, small and mid-caps were not much traded. Shares of mWIG40 companies worth only PLN 332m changed hands while sWIG80 firms generated PLN 177m of trade. Both indices ended about 1 percent up.

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Podpis: MG

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