WIG20 above 2,680 points despite KGHM’s dive

04-08-2008, 22:24

Warsaw (Puls Biznesu) – The WSE opened slightly down after US markets lost on Friday. KGHM copper producer which generated majority of trade fell deeply. Polish companies publishing their quarterly results disappointed because they had been adversely affected by  strong zloty.

Shares worth only PLN 899m changed hands. Investors wait for tomorrow’s decisions of European and US central banks.

In Poland, TP telecom rose over 1.7 percent on the launch of buyback program which is supposed to be worth PLN 700m. Polimex-Mostostal construction company added over 2.6 percent. Tomorrow, the company is publishing its quarterly results. KGHM copper producer opened up but ended 3 percent down. Pekao and PKO BP, two biggest banks, also dragged the market down.

Smaller companies did slightly better. mWIG40 was doing better than WIG20 all day long. Sobieski jumped 28 percent after 40 days of losses. Wandalex rose on the news its deputy chairman had bought the stock of the company. LPP clothes firm ended slightly down despite good quarterly results (sales grew 37 percent). Midas, Krezus and Boryszew, companies from Roman Karkosik group, were losing 5 percent during the day.

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