The second boring session on the Warsaw Stock Exchange this week

opublikowano: 30-01-2007, 19:35

Warsaw (Puls Biznesu) – Quarterly results of TP telecom and copper prices influenced the Tuesday session.

Warsaw (Puls Biznesu) – Quarterly results of TP telecom and copper prices influenced the Tuesday session. 

Both factors encouraged to sell the stock of TP and KGHM copper producer. The WIG20 index was losing all day long. It ended unchanged at 3,424.3 points. The session was boring. Analysts had expected that this week would be like that unless there is an impulse from the U.S. markets. Tomorrow, Fed will make decision concerning interest rates, economists expect they will stay unchanged. Similarly as the rates in Poland, economists believe. The decision of the Monetary Policy Council will also be published on Wednesday.  

TP had PLN 381m of net income in the fourth quarter of 2006 against PLN 484m a year earlier and the median forecasts of PLN 546m. The stock was losing 1.6 percent during the day but ended 0.27 percent down at PLN 25.75m. Shares worth PLN 126.6m changed hands. KGHM was falling following the other leading European copper producers. Although copper prices rose symbolic USD 10 a tone, KGHM ended at PLN 90.3, or 1.9 percent down. Bioton insulin producer was the worst performer among blue chips. The stock dropped 2.4 percent. PGNiG gas monopoly dragged the index up. In the eleventh hour, the stock rose 4 percent to PLN 3.85. BRE Bank rebounded 3.5 percent today after last week’s losses.

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Inne / The second boring session on the Warsaw Stock Exchange this week