WIG20 again ends above 2,900 despite falls in the West

APA - Austria Presse Agentur
opublikowano: 02-03-2006, 17:28

Warsaw (Puls Biznesu) – The Polish market continued the upward trend for the second day despite falls in Western Europe.

Warsaw (Puls Biznesu) – The Polish market continued the upward trend for the second day despite falls in Western Europe.

The WIG20 index ended 0,99 percent up at 2,904.62 and rebounded nearly 60 percent of Tuesday’s dive of 120 points. GDP growth in the fourth quarter of 2005 reached 4.2 percent on the annual basis. PGNiG gas monopoly rose 2.8 percent to PLN 3.35 despite lower net income in the fourth quarter of last year. The operating income grew, however to PLN 242.7m, above expectations. Orbis hotel operator gained 1.9 percent to PLN 42.8 after it said it would improve last year’s results. In 2005, the company had over PLN 60m of net income, or 11 percent more than a year earlier.

Pekao bank added over 2.1 percent to PLN 194. Next week, Alessandro Profumo, Unicredito Italiano CEO, is meeting the representatives of the Polish banking authorities which next Wednesday will decide on its application to control Bank BPH.

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Podpis: APA - Austria Presse Agentur

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