Warsaw Stock Exchange rebounds

opublikowano: 22-11-2007, 21:21

Warsaw (Puls Biznesu) – For the first time in the history of the Warsaw Stock Exchange, so many shares changed so much during one day.


The speculative capital was so high that for sure investment funds must have been taking part in trading today. The market opened, as expected, down after yesterday Dow Jones dropped to the lowest level since April 19th. WIG20 was trading 1.1 percent down in the morning, sWIG80 3.2 percent down while mWIG40 2 percent down. Out of a sudden, all shares rebounded substantially. WIG20 ended 0.79 percent up at 3,553.76 points. Hawe, which was losing 12.5 percent in the morning ended 41.7 percent up. This was the most spectacular example but 41 companies today rose at double-digit growth rate although only 20 were trading up in the morning. Interestingly, all this happened when there is the Thanksgiving Day in the USA and the markets are closed there.


Commodity companies did poorly on Thursday so the rebound may last very short. KGHM copper producer shed 3.2 percent for the worst performer among blue chips. The stock ended at PLN 109.4 for the lowest level since September 11th. PKN Orlen dropped 1.6 percent. Companies which have been losing heavily recently, today rebounded most. Polimex-Mostostal construction company rose 6.1 percent but in the previous 30 days they had dived over 30 percent. Polnord gained 5.8 percent but since the middle of April, it had lost over 60 percent.


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