Warsaw shares end lower after two-day winning streak

APA - Austria Presse Agentur
21-02-2006, 19:50

Warsaw (Puls Biznesu) – After two days of gains when the WIG20 index added 5.2 percent, the 20-share blue chips average fell 0.3 percent on Tuesday. However, the volume of trade was 14 percent lower than on Monday.

Warsaw (Puls Biznesu) – After two days of gains when the WIG20 index added 5.2 percent, the 20-share blue chips average fell 0.3 percent on Tuesday. However, the volume of trade was 14 percent lower than on Monday.

BRE Bank, the best performer among blue chips, rose 2.1 percent to PLN 196. The monopoly authorities approved of the merger of PZU and Skarbiec Emerytura pension funds. The latter was sold by BRE to PZU in November 2005. Grupa Keta aluminium producer gained 1.3 percent to PLN 120.5. Shares worth PLN 29m changed hands. The company said that it regained 80 percent of its capacity cut after the fire in January.

Pekao and BPH banks lost despite reporting quarterly results higher than expected. Pekao had PLN 406m of consolidated net income, or 28 percent higher than a year earlier. Average forecasts amounted to PLN 393m. In 2005, the net income amounted to PLN 1.53 billion, the highest in the history. The stock shed 1.1 percent to PLN 179. BPH net income rose in the fourth quarter by 53 percent to PLN 311m while analysts expected PLN 302.8m. Shares fell 0.6 percent to PLN 790.

PKN Orlen fuel giant lost 2.6 percent to PLN 63.1 while the volume of trade reached PLN 135m. The company withdrew from talks on selling shares of Unipetrol’s subsidiaries to Agrofert.

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Podpis: APA - Austria Presse Agentur

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Puls Inwestora / Warsaw shares end lower after two-day winning streak