Warsaw (Puls Biznesu) – Another minister joined the group of Law and Justice (PiS) members who threat investors. Today, Andrzej Mikosz, the Minister of Treasure, said that the privatization of PGNiG gas monopoly was scandalous and promised to do his best to cancel it. In the afternoon he said he meant the nationalization of part of PGNiG’s assets. The company’s shareholders froze, shares dived PLN 0.1 but rebounded in the eleventh hour. Andrzej Mikosz evaluated also the management of PKN Orlen fuel giant – in his opinion the management culture is ‘tragic’. Shareholders did not care that much in this case and the fuel giant rebounded after three days of losses and ended 2.1 percent up.
KGHM copper producer was the worst performer among blue chips and fell 1.9 percent while shares worth PLN 120m (EUR 30.1m) changed hands. There were several reasons for that: the decrease of copper prices (4 percent), the fact that DM BZ WBK lowered its recommendation to ‘reduce’ with target price of PLN 45, and the announcement of U.S. investment bank J.P. Morgan that it reduced its stake in the company to 4.76 percent.
The main index rebounded – similarly to PKN Orlen – after three days of losses. WIG20 ended 0.58 percent up. Shares worth only PLN 430m changed hands.
Strzelec brewery jumped 50 percent but it failed to explain that in an announcement. Adam Borkowski, the main shareholder (jointly with his wife) also refused to comment. Bioton insulin producer rebounded after it had lost 10 percent yesterday. On Tuesday, BACA sold a stake in Bioton (11.24 percent).
(PLN 1 = EUR 0.251)