Politics adversely affect Polish bourse GPW

APA - Austria Presse Agentur
02-03-2005, 19:21

Warsaw (Puls Biznesu) – WIG20 continued falls but today it lost 3.53 points. Fortunately, the volume of trade decreased. Shares worth PLN 600 m (EUR 153.6 m) changed hands while last Friday, it was PLN 1.5 billion. Yesterday, PM Marek Belka said he would make ‘an important political statement’ on Thursday.

Warsaw (Puls Biznesu) – WIG20 continued falls but today it lost 3.53 points. Fortunately, the volume of trade decreased. Shares worth PLN 600 m (EUR 153.6 m) changed hands while last Friday, it was PLN 1.5 billion. Yesterday, PM Marek Belka said he would make ‘an important political statement’ on Thursday. The market expects him to access Democratic Party, which means that his cabinet would be dismissed, and Parliamentary elections would be shifted form Fall to June. Foreign investors who expected calm political situation do not like that.

The giants were the worst performers. TPSA telecom shed 4.8 percent. KGHM copper producer lost 4.3 percent. PKO BP bank and PKN Orlen fuel giant decreased over 3 percent. The latter disappointed with its consolidated income: analysts expected PLN 700 m of net income while it amounted to PLN 610 m. Moreover, its CEO Igor Chalupiec said that it would be difficult to repeat record 2004 results. None of the WIG20 companies grew.

 

Poland/Stock market report

 

 

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Podpis: APA - Austria Presse Agentur

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Inne / Politics adversely affect Polish bourse GPW