TP drags WIG20 up while KGHM drags the index down on Wednesday

APA - Austria Presse Agentur
25-10-2006, 19:55

Warsaw (Puls Biznesu) – The WIG20 index which was trading above its Tuesday level all day, ended 0.53 percent down at 3,170.73 points.

Warsaw (Puls Biznesu) – The WIG20 index which was trading above its Tuesday level all day, ended 0.53 percent down at 3,170.73 points.

The session did not bring substantial changes on the market. One could have expected it because the Polish and U.S. central banks are making their interest rates decisions today. No changes are expected but investors are waiting for the statements of the monetary policy councils.

TP telecom whose third quarter results were better than expected, rose 5.5 percent to PLN 21. The company had PLN 689m of net income while analysts had expected PLN 533m of consolidated net income. The mobile sector was the most profitable, sales jumped 20.5 percent. Shares of TP worth PLN 410m changed hands. Bioton insulin producer continued its upward trend. Since October 12th, the stock has gained 30 percent. Commodity companies were losing today along with falling commodity prices. KGHM fell for the fourth consecutive day while shares worth PLN 152m changed hands.

Among mid caps, homebuilders are doing very well. Polnord jumped 15 percent, Atlantis which may merge with J.W. Construction rose 11.5 percent, Gant added 5 percent.

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Podpis: APA - Austria Presse Agentur

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Inne / TP drags WIG20 up while KGHM drags the index down on Wednesday