PKO BP and KGHM pace advances in the WSE

APA - Austria Presse Agentur
opublikowano: 25-01-2006, 20:20

Warsaw (Puls Biznesu) – After two days of rest, today main indices reached their new records.

Warsaw (Puls Biznesu) – After two days of rest, today main indices reached their new records.

Seven out of 13 indices in the Warsaw Stock Exchange beat their historical records today. It was thanks to the approval of the budget, which the Polish Parliament managed to complete one minute after midnight. U.S. and Tokyo markets grew, Western European indices were growing. No wonder that before midday, shares of blue chips worth over PLN 400m (EUR 104.8m) changed hands.

The WIG20 index ended 2,953.72 points, or 1.6 percent up. This year, the index has grown 11.25 percent. WIG ended at 39,351.63 points, or 1.1 percent higher. MIDWIG and WIRR also reached new records.

PKO BP bank and KGHM copper producer paced the advances. According to Citigroup, PKO BP shares are worth PLN 38 and are recommended to ‘buy’. Today, they ended at PLN 32.8, 15.8 percent below the target price. ING Securities raised its evaluation of KGHM from PLN 45.8 to PLN 88, or by 92 percent. The recommendation is “buy”, of course. Today, shares jumped 5 percent to PLN 81.4. KGHM was helped by high copper prices which rose to USD 4,690 for one tone.

PGNiG gas monopoly added over 3 percent to PLN 3.6. Severe winter causes record gas demand. Grupa Lotos fuel company exceeded its Tuesday record by 1.6 percent. In the middle of the year, the company will announce its strategy for the years 2006-2010.

(PLN 1 = EUR 0.262)

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Podpis: APA - Austria Presse Agentur