Politics again attacking business
Warsaw’s WIG20 index yesterday climbed back into four figures but it would have done better had some clear direction and agreement been provided by politicians.
The official results of Sunday's election will not be known until today but it seems certain that the country is heading into a coalition which may not have the strength and determination required to pull it out of the economic doldrums. Unfortunately the pro business Civic Platform (PO) is spurning the victorious SLD which is now faced with the choice of going for a more radical partner or trying to rule in a minority government. Either way this did not please the markets which had been backing an absolute SLD victory. Nonetheless the WIG20 climbed up one percent to 1,003.1 points yesterday and the WIG made it up to 11,688.
Turnover was however low at only PLN137.7m as many clearly wait on the sidelines until they can tell which way the wind is blowing.