PKO BP bank and Asseco Poland paced the advances of the WIG20 index which ended 0.85 percent up at 2,631.23 points. The IT company rose on good second quarter results (PLN 100.8m against PLN 62.9m of forecasts) and on PB news that it wants to acquire Romanian Siveco. TVN media group rose to its highest level in 10 weeks on PLN 208m of net income in the second quarter, or 35 percent more than last year. The biggest private TV broadcaster in the country will spend PLN 500m this year for a buy back.
GTC construction company and Agora media group dragged the index down. Agora’s operating income dropped from PLN 40.2m to PLN 30.2m, which was worse than analysts had expected. The stock lost 6 percent.
Small and mid caps did slightly worse than blue chips but there were several
outstanding stocks, including LC Corp. homebuilding company which had PLN 21.81m
of consolidated net income. The stock jumped 15.9 percent to the level since the
beginning of July. PKM Duda meat producer presented results worse than a year
ago and its shares fell 2.7 percent despite the fact that the management said
that hog market was improving. Makarony Polskie pasta producer also disappointed
with results.