Investors restart mass acquisitions despite storm in Parliament

APA - Austria Presse Agentur
opublikowano: 11-01-2006, 18:05

Warsaw (Puls Biznesu) – Despite political storm in the Parliament and a threat of faster Parliamentary elections, investors restarted mass acquisitions in the Warsaw Stock Exchange on Wednesday.

Warsaw (Puls Biznesu) – Despite political storm in the Parliament and a threat of faster Parliamentary elections, investors restarted mass acquisitions in the Warsaw Stock Exchange on Wednesday.

Shares of banks and commodity companies were the most traded stocks. The WIG20 index ended at 2,850.35, or 1.9 percent up. WIG reached its new all-time record of 38,090.99 points. Seven out of 13 indices beat their records, including MIDWIG, which did it for the eight consecutive day. Shares of blue chips worth over PLN 1 billion changed hands, and PLN 280m more in the whole market. This was 13 percent more than on Tuesday when shares decreased. Investors did not pay attention to the storm in the Parliament over the budget. They seem not to listen to any bad news which could endanger the upward trend. This in turn may be a signal of soon end of growths in the market.

None of the WIG20 companies lost today, with Orbis travel company being the only one to remain unchanged. Banks were traded eagerly. PKO BP added 3 percent to PLN 31.3 (EUR 8.3) while Pekao ended the day 2.8 percent up at PLN 184. Shareholders of commodity companies had a good day. KGHM copper producer  rose 2.1 percent while shares worth PLN 136m changed hands. Shares were traded at PLN 67.7, close to the record of PLN 69.2 reached last Friday. Despite a decrease of copper in London, the commodity remains very expensive, which will positively influence KGHM’s results. TP telecom gained 1.6 percent to PLN 24.9. Marek Jozefiak, TP CEO said that a strategy for the year 2006 would be presented on February 8th when fourth quarter results are to be published. PKN Orlen fuel giant attracted most attention: shares worth PLN 238m changed hands. However, the stock gained only 0.4 percent after they had dived to PLN 67.5, or by PLN 1.8 on Tuesday.

(PLN 1 = EUR 0.265)

 

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Podpis: APA - Austria Presse Agentur

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