Warsaw (Puls Biznesu) – The WIG20 index fell 0.28 percent to 1,868.84. It would have lost more, hadn’t it been for TPSA telecom.
Citigroup raised TPSA shares to buy and set their price at PLN 22.5 (EUR 5.5). The telecom jumped from PLN 18.15 to PLN 18.9 in just 30 minutes, rebounding from a 1.5 percent minus to 2.7 percent plus. The whole market rebounded, paced by TPSA. Another important factor was the UMTS tender, won by Nokia Mobile. Netia rose but then shed and ended the day unchanged.
Banks had a good day, among this sector’s blue chips, only BRE Bank decreased. PKN Orlen fuel giant fell for the fourth consecutive day. Investors are preparing to buy stock of its smaller rival Grupa Lotos, which will be listed soon. Since May 4 th, PKN Orlen has already shed over 7 percent. KGHM copper producer lost nearly 2 percent although copper in London became more expensive.
(PLN 1 = EUR 0.243)