Political uncertainty causes falls in the stock exchange

APA - Austria Presse Agentur
opublikowano: 27-10-2005, 21:46

Poland: Warsaw (Puls Biznesu) – The falls in the Polish stock were no surprise due to clash between Law and Justice (PiS) and Citizens’ Platform (PO) parties which have not been able to build coalition yet. WIG20 ended 1.6 percent down while shares worth PLN 710m (EUR 177.5m) changed hands. The new government will be known on Monday.

Poland: Warsaw (Puls Biznesu) – The falls in the Polish stock were no surprise due to clash between Law and Justice (PiS) and Citizens’ Platform (PO) parties which have not been able to build coalition yet. WIG20 ended 1.6 percent down while shares worth PLN 710m (EUR 177.5m) changed hands. The new government will be known on Monday. If the minority cabinet with support of Samoobrona populist party is built, the economic growth and stock market increases are in danger.

TP telecom started the day with a 4 percent decrease after it had said it would pay France Telecom PLN 4.88 billion for 34 percent of PTK Centertel. Then, however, shares rebounded. Marek Jozefiak, TP CEO, said that PTK Centertel would pay out dividend to TP for income generated in 2006. TP ended ‘only’ 1.7 percent down. Similar results were achieved by KGHM, Pekao, PKO BP and Lotos. PKN Orlen fuel giant was the worst performer among blue chips with 3.2 percent fall. Among smaller companies, Mostostal Plock was outstanding. Shares jumped 14.5 percent after the company said that the upcoming shareholders meeting would vote for a dividend of PLN 7.5 a share. PC Guard and Spray, which had gained much in recent days, fell today. Bioton insulin producer fell for the fourth consecutive time. Shares have lost 24 percent since Friday. Before, however, they had risen 70 percent.(PLN 1 = EUR 0.250)

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Podpis: APA - Austria Presse Agentur

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