Warsaw Stock Exchange was weaker than its European peers

opublikowano: 25-04-2007, 20:36

Warsaw (Puls Biznesu) – Warsaw stock decreased dragged down by TP telecom, KGHM copper producer and PKN Orlen fuel giant.

KGHM dropped on falling copper prices. TP presented results which disappointed investors so much that the stock dived 4 percent. PKN Orlen was also falling. WIG20 dropped close to the level of 3,560 points. Banks were growing on the other hand strengthened by BZ WBK which presented very good results and Bioton insulin producer which rebounded after a period of decreases.

The MPC decided to increase interest rates by 25 base points to 4.25 percent for the main rate. However, the market had widely expected such a decision. Neither the currency nor the stock reacted. U.S. data concerning the demand for durable goods were good news and helpem the markets.

The main indices ended about 0.5 percent down with the exception of sWIG80. Shares worth PLN 2.2 billion changed hands.

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Inne / Warsaw Stock Exchange was weaker than its European peers