Warsaw (Puls Biznesu) – Very good March PPI data published today convinced investors that the Polish economy has strong fundamentals. Indices ended at new all-time records.
WIG20 rose 2.56 percent to 3,149.33 points. WIG, WIG-PL, MIDWIG, WIRR and WIG-Banki or WIG-Spozywczy also hit their new records. Shares of blue chips worth PLN 1.38 billion changed hands while for WIG companies the volume of trade reached PLN 1.75 billion, one of the highest levels in the history of the Warsaw Stock Exchange.
The Ministry of Finance expects the GDP growth in the first quarter at 5.2 percent. The industrial production in March rose 16.4 percent, above analysts’ forecasts of 13.4 percent. The PPI gained 0.9 percent against expected 0.5 percent.
PKN Orlen stock worth nearly PLN 400m changed hands. TP telecom attracted PLN 317m of trade. PKO BP bank hit its new all-time record of PLN 38.8, KGHM copper producer of PLN 106.5, Lotos fuel company of PLN 59.9, Pekao bank of PLN 200, BRE Bank of PLN 200 and Orbis hotel operator of PLN 48.8.
Among small caps, Instal-Lublin jumped 29 percent to PLN 5.6, or PLN 0.05 more than its record hit on the IPO on June 1 1998. The company, controlled by Mostostal Eksport, wants to increase sales in Poland ad abroad, especially in EU contracts.