Warsaw indices stop rising before Fed decision

APA - Austria Presse Agentur
opublikowano: 29-06-2006, 19:30

Warsaw (Puls Biznesu) – The WIG20 ended slightly down and the volume of trade fell 15 percent on Thursday.

Warsaw (Puls Biznesu) – The WIG20 ended slightly down and the volume of trade fell 15 percent on Thursday.

After four straight days of increases when the WIG20 index had grown nearly 9.4 percent, investors refrained from buying prior Fed decision over interest rates. Pension funds did not let the index fall too much, however. Due to the window dressing, the blue chip index lost only 0.29 percent to 2,842.29 points. However, the volume of trade was 15 percent lower than on Wednesday.

PKN Orlen lost 2.6 percent, to PLN 52, after Lukoil said it could limit deliveries for Mazeiku refinery, the newest acquisition of PKN Orlen. Among small and medium-sized companies, FON jumped 7.6 percent after the securities and exchange commission KPWiG approved of its issue prospectus. The company wants to spend the funds raised in the stock exchange for the production of steel constructions. Wawel sweet producer rose when its CEO Dariusz Orlowski said that the second quarter results would be higher than last year’s (PLN 45m of sales and PLN 4.8m of net income). The stock added 5.9 percent. Skotan rose 3.1 percent on the news it had signed agreement with Lamont company for the delivery of heat and vehicle oil. The contract is worth PLN 550m. Elektrim continued the falling trade. Today the stock lost 6.6 percent after the Warsaw court agreed to take over Elektrim’s assets worth PLN 6.7 billion, which was applied by Vivendi.

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Podpis: APA - Austria Presse Agentur