Turnover low, stocks worse
The stock exchange lost more ground yesterday as the WIG20 index saw another 1.3 percent shaved off it to fall to 1,164 points whilst the WIG lost another percent to fall to 12,948 points.
Turnover however was very low at PLN127m.
Netia lost another 8.4 percent to fall to a new record low. The company has now lost around ninety percent of its value since it was launched on the stock exchange. Traders were yesterday worried about Monday’s downgrading of the stock by international ratings agency Fitch and fears of the risk of a cash crisis within the company.
Other losers yesterday include banks BZ-WBK and PBK which both lost around six percent. Tyre maker Stomil Olsztyn in which the main shareholder is the French Michelin also lost 5.4 percent and portal Interia saw five percent taken off its share price.