Warsaw (Puls Biznesu) – Warsaw Stock Exchange did not avoid losses on Monday. Further developments will be determined by Western European markets and political decisions.
Warsaw (Puls Biznesu) â€“ Warsaw Stock Exchange did not avoid losses on Monday. Further developments will be determined by Western European markets and political decisions.
The WIG20 index lost 0.21 percent. In the morning, it dived 1.5 percent, following its Western European counterparts, which in turn followed falls noted in the USA on Friday. High oil prices were another factor discouraging investors. However, the index rebounded later in the day. It seemed that new records would be reached, however, they were not.
Events in Western markets will influence the changes in Warsaw. WIG20 may reach 3,000 points, while WIG 40,000 points. On Tuesday, the 2006 budget will be voted. If it was rejected, which is rather not the case, indices would fall.
Today, PKN Orlen fuel giant was the most traded company, shares worth PLN 165m (EUR 42.7m) changed hands, or 25 percent of the whole volume traded on blue chips. Shares dropped 0.6 percent to PLN 65. Bioton was the best performer among blue chips and added nearly 7 percent. Grupa Kety was the worst performer and fell over 9 percent after the recent fire which will decrease this years operating income by PLN 20m. Bank BPH shares were withheld from trading after UniCredito Italiano announced tender offer to buy 8.32m shares, or 29 percent of the capital.
(PLN 1 = EUR 0.259)