Netia getting worse
Yet again it was shares in telecommunications company Netia that led the falls on the stock exchange. Netia performed even worse than Wednesday, losing more than twenty percent yesterday falling to PLN7.80, some 95 percent less than the stock entered the bourse around one year ago. As investors pull out en masse the very survival of the company is now under question. To make matters worse there was only a four percent growth in new lines in the second quarter suggesting that clients are getting hard to find. Analysts were saying that investors may have to wait until 2006 just to get their initial investment back if the company does manage to pull through.
Elsewhere it was bad as well. The WIG20 lost 2.1 percent to fall to 1,118 points and the WIG lost 1.8 percent to 12,533.
Turnover was very low at PLN121m. Only 25 stocks increased in value whilst 75 tumbled.