Morning slump of the WSE was a good opportunity for earnings

08-11-2007, 20:37

Warsaw (Puls Biznesu) – Although indices fell even deeper on Thursday, demand is growing. Investors made use of morning slump and bought shares at very low prices.

After another weak session on the Wall Street, dropping Asian markets and weak openings in Europe, the WIG20 index lost 2.9 percent in the first minutes of trading. It rebounded quickly, however and ended 1.34 percent down. mWIG40 which was losing over 4.5 percent in the morning closed 0.8 percent down. sWIG80 which was also losing ove 4.5 percent, ended at minus 0.7 percent.

There were chances to earn a lot today. ZNTK Lapy, the railway modernization company, which had its debut today, and was losing 7.8 percent in the morning (PLN 27), ended 36.5 percent up, at PLN 40. NFI Empik Media & Fashion, Ponar, Jutrzenka and over 10 other small caps, ended substantially up.

Among blue chips, PGNiG gas monopoly rose 4.2 percent for the best performance among blue chips. The stock closed at PLN 6, the second highest level ever. Agora media group added 3 percent on better than expected quarterly results and higher forecasts of ads revenues this year. TVN media group lost over 2 percent on a higher-than-expected net loss. The stock was losing even 6.1 percent during the day.

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Podpis: MG

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