Poland: Zloty depreciation drags down stock market

APA - Austria Presse Agentur
opublikowano: 21-03-2005, 20:35

Warsaw (Puls Biznesu) – Stock indices fell due to weakening zloty. WIG20 lost 1.9 percent and ended the day at 1,932.68, the lowest level since February 4th. Since its height of February 25th, the index has lost 8.8 percent.

Warsaw (Puls Biznesu) – Stock indices fell due to weakening zloty. WIG20 lost 1.9 percent and ended the day at 1,932.68, the lowest level since February 4th. Since its height of February 25th, the index has lost 8.8 percent.

Pekao bank was one of the worst performers among blue chips. The company shed 4.4 percent, while shares worth PLN 77 m (EUR 18.9 m) changed hands. TPSA telecom lost 3 percent, but the volume of trade was low for this giant (PLN 68 m). PKN Orlen fuel giant ended the day a bit better then the index – shares fell 0.5 percent. Shares of all blue chips worth PLN 450 m only changed hands today.

There were only three blue chips, including Orbis, Debica and Mondi, which gained today. Among small and medium size companies, CCC shoe producer reached its highest level since the IPO after the management presented very ambitious plans for 2005. Unofficially, the company has received a positive recommendation from a brokerage.

(PLN 1 = EUR 0.245)

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Podpis: APA - Austria Presse Agentur

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