Warsaw (Puls Biznesu) – The Warsaw Stock Exchange ended up today. The advances were paced by KGHM which grew along with copper prices (over USD 8,000 a ton). PKN Orlen fuel giant fell on the concern that its CEO Igor Chalupiec may be replaced by Miroslaw Kochalski, PiS politician working in Warsaw city council authorities today.
Good results on the Wall Street helped Warsaw and European indices grow today. Copper price increases was the reason for KGHM’s stock 6 percent jump. KGHM shares worth PLN 380m changed hands, 40 percent of the whole trade with blue chips. TP telecom, the second most eagerly traded firm, attracted PLN 93m of trade today. PKN Orlen which fell 2.4 percent on the concern of possible changes in the management, attracted PLN 170m of trade today. Kety aluminium company, PKO BP bank and Agora media group did not join the upward trend as well. On July 19, 2.34m of shares of Agora will be listed, or 5.88 percent of the equity being traded today. PKO BP lost on the concern that the Minister of the Treasure Wojciech Jasinski blocked its foreign expansion plans.
Among mid- and small-caps, eCard had a great day on its debut day. The stock ended PLN 85 percent up. Sky Europe low-cost carrier rebounded 9.6 percent after nine days of losses which cut the stock price by 46.5 percent. Sal Oppenheim investment bank recommended the stock to buy in its report dated July 10.