Poland/Stock market report
Warsaw (Puls Biznesu) – After deep dives of Dow Jones (nearly 1 percent) and Nasdaq (over 2 percent) one could expect falls on the Polish stock exchange GPW. The falls were much deeper than expected, however. The WIG20 index lost 2.27 percent to 1910.33 points. It is now over 3.9 percent below its Monday heights. The January effect will probably not come at all although yesterday one could still have hope.
Falling copper prices in London were the reason of KGHM shares losing 5.2 percent while shares worth PLN 115 m (EUR 27.8 m) changed hands. Pekao and PKO BP banks lost, respectively, 3.6 percent and 2.8 percent. GTC construction company lost 5 percent. Only four blue chips avoided falls, including Orbis tour operator and Swiecie, which ended unchanged and Softbank IT company and Agora media group, which ended up.
Among smaller companies, Boryszew metal trading company gained after it said it had received the right of exclusive negotiations for Impexmetal. Budimex construction company added 2 percent because it signed a contract worth EUR 14 m to build border control point between Poland and Byelarus.
(PLN 1 = EUR 0.242)