Poland: WIG20 remains under the level of 1800 points

27-10-2004, 18:45

Poland/Stock market report

Warsaw (Puls Biznesu) – After rises in the first minutes of trading, the indices on the Polish stock exchange GPW fell and stayed just above the Tuesday levels. Decrease in oil prices caused rises in Euroland, which in turn meant rises in Poland. The WIG20 index, however, did not grow substantially, and it closed up by 0.39 percent at 1792.27 points.

PKN Orlen fuel giant was eagerly bought by foreign investors. The volume of trade amounted to PLN 123 million (EUR 28.2 million), i.e. 30 percent of the trade for the whole market. The price of the shares was growing, but then in the last two hours it fell down. PKN Orlen ended the day 0.3 percent lower eventually. TPSA telecom grew by 0.3 percent and Pekao bank – by 0.8 percent.

BPH bank was the weakest in financial sector. Investors are not as optimistic as the bank’s CEO Jozef Wancer, who described the third quarter results to be published on November 4th as ‘very good’. The stock fell by 1.1 percent.

Duda meat plant grew by 2.2 percent after the company had said it had received PLN 2.7 million from the SAPARD programme. Since the beginning of October, Duda lost 15 percent.

(PLN 1 = EUR 0.229)

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