PKO BP drags the market down while Pekao helps it up

APA - Austria Presse Agentur
20-01-2005, 22:03

Warsaw (Puls Biznesu) – On Thursday, the WIG20 index ended down 0.26 percent at 1840.71 points.

Warsaw (Puls Biznesu) – On Thursday, the WIG20 index ended down 0.26 percent at 1840.71 points.

Weak industrial production data published by the central statistical office GUS too late to influence the bourse today, will probably adversely affect Friday opening. Economists expected industrial production to rise 13 percent in December, while the growth amounted to only 6.4 percent year-on-year and fell 2.7 percent in comparison to November.

Among blue chips, PKO BP bank was the worst performer. During the day, the shares price fell even by 2.2 percent but finally the decrease amounted to 1.5 percent while shares worth PLN 160 m (EUR 39 m) changed hands. Pekao bank, on the other hand, added 1.2 percent after Luigi Lovaglio, its deputy CEO, assured investors that this year’s target is to improve results in comparison to last year by a bigger focus on the client. BPH bank gained 1.3 percent, a rebound after Wednesday losses when it turned out that Glimar refinery, its owner, announced bankruptcy. TPSA telecom remained unchanged while PKN Orlen fuel giant shed 0.6 percent.

(PLN 1 = EUR 0.244)Poland/Stock market report

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Podpis: APA - Austria Presse Agentur

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