Warsaw (Puls Biznesu) – For the second consecutive day, investors followed changes in the forex market. In the morning, the Polish currency zloty was falling, so were indices. Later, however, zloty rose, and indices did, too. In the afternoon, the zloty/euro exchange rate did not change and the indices did not manage to exceed Monday levels. The WIG20 index lost 0.51 percent to 1,873.87. Shares of blue chips worth PLN 323 m (EUR 77.2 m) changed hands, rather a low level.
Shares of TPSA telecom worth PLN 121 m changed hands. The company shed 0.5 percent. Shares of Pekao bank and PKN Orlen worth half of that changed hands. Pekao lost only 0.4 percent. PKN Orlen lost 1.6 percent although DI BRE Bank raised its recommendation to ‘buy’ and evaluated a share at PLN 51.7, while today they cost PLN 44.2. Investors might not welcome the decision to raise severance pays. They did not react to the news that the acquisition of 63 percent stake in Czech Unipetrol for PLN 1.56 billion was finalised as it was reflected in the prices before. Hungarian MOL added 2.2 percent when it said it had increased its consolidated net income in the first quarter by 53 percent to USD 379.7 m (EUR 301.9 m).
Among smaller companies, Prochnik and LZPS Protektor jumped, the first company 13.1 percent, the latter 11.9 percent. Invar Biurosystem gained 5.8 percent after its management said it would issue 1.5-8 m new shares for the company’s creditors.
(PLN 1 = EUR 0.239)
(USD 1 = EUR 0.795)