Bad news were coming all day long today. In the UK, inflation data were the worst in 11 years. ZEW, the index representing moods of analysts and institutional investors, was 9 points lower than expected. The WIG20 index dived below this year’s low of 2,450 points.
Out of 20 blue chips only Grupa Lotos fuel company and Agora media group managed to avoid losses. Agora rebounded after three days of decreases when the stock price has shed 20 percent. Polnord and Bioton, two companies owned by Ryszard Krauze investor, were among the worst performers.
Small and mid-caps are doing even worse than blue chips. mWIG40 fell 3.4
percent while sWIG80 dropped 2.8 percent. Shares worth PLN 976m changed hands, a
slight increase as compared to Monday. Analysts believe that KGHM copper
producer will drag the market down tomorrow. Tomorrow is the ex-dividend day for
its stock constituting 12 percent of WIG20 index. The index will thus fall about
1.2 percent.