Market calms down thanks to US data

15-04-2008, 21:14

Warsaw (Puls Biznesu) – After a series of  bad news from the USA, today, the US data supported the market.

The WIG20 opened slightly up but investors were not active. The 20 share blue chips index remained nearly unchanged for many hours. European markets also stabilized despite growing oil prices which may boost inflation. In Poland, record high zloty protects from price increases in the rest of Europe. The central statistical office GUS said today that retail sales in March grew 4.1 percent year-on-year, i.e. along with expectations.

Demand on the WSE appeared in the last two hours of trading but investors were interested in blue chips mainly. The WIG20 index ended 1.3 percent up but the volume of trade was very low and amounted to PLN 800m. Pekao bank and KGHM copper producer paced the advances. Bioton insulin producer fell over 2 percent to below PLN 0.8 for the worst performer among blue chips. mWIG40 lost 0.8 percent.

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