KGHM drags the Warsaw Stock Exchange down

APA - Austria Presse Agentur
06-12-2006, 19:51

Warsaw (Puls Biznesu) – The Warsaw market did not manage to beat the records reached on Tuesday.

Warsaw (Puls Biznesu) – The Warsaw market did not manage to beat the records reached on Tuesday.

The WIG20 index rose to 3,407.71 points, or 5.25 points during the day but it ended much worse – 0.61 percent down. Shares worth PLN 840.6m changed hands, or 12 percent less than yesterday. Investors got discouraged after KGHM said that copper prices may fall to USD 2,700 a tone. Today it costs USD 7,019.5 a tone so the decrease would amount to 60 percent. KGHM which rose to PLN 109.4 during the day ended at PLN 105.8, 0.3 percent down. The other blue chips which paced the advances yesterday, including PKO BP or Pekao also shed today. PKO BP lost 2.8 percent to PLN 45.98 while Pekao lost 2.6 percent to PLN 227. On the other hand, Bank BPH rose 2 percent to PLN 938, close to its record as of November 7th. BZ WBK added 1.7 percent to PLN 227.5.

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Podpis: APA - Austria Presse Agentur

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