Warsaw (Puls Biznesu) – The indices were falling in Warsaw today. Unfavorable conditions abroad and falling commodity prices may forecast further falls.
After four days of small increases, today’s session brought a 2.65 percent loss of the WIG20 index which ended at 2,855.91.Shares worth PLN 922m changed hands. Banks were falling after numerous increases in recent days. KGHM copper producer fell over 3 percent due to to falling copper prices. Moreover, the trade unions negotiate with the management to receive an additional bonus due to very good financial results. Oil was also depreciating after last weeks increases. PKN Orlen fuel giant dived 3.6 percent. The Ministry of Economy worried that the Russians would not deliver oil to Mazeiku refinery which is currently being acquired by PKN Orlen. Agora media group was the only blue chips to end up despite the news that the sales of its daily Gazeta Wyborcza fell 9.6 percent in April.
Out of small and medium-sized companies, Elektrim telecom and energy firm rose 4.8 percent after the court forbid its shareholders to execute their owning. Rafako gained 3.6 percent. The company may issue new shares to finance foreign acquisitions.