WIG20 continues its upward trend

MG
opublikowano: 14-02-2008, 20:29

Warsaw (Puls Biznesu) – The third consecutive increase in the Wall Street plus increases in Asia should have ensured increases in Warsaw. It was not that easy, however.

The market opened up and exceeded the level of 3,100 points. Then, however, investors decided to sell the stock as they did not believe the rebound will continue. Even good financial reports published by Polish companies failed to support the indices. PKO BP bank showed income above forecasts (mainly because it overestimated the value of earlier reserves for bad debts). Kredyt Bank was also a nice surprise to investors. KGHM copper producer had results better than expected and it was achieved despite strengthening zloty. Investors welcomed good results of Mieszko sweet producer. The stock jumped 13 percent.

 

In the afternoon, the market rebounded after good data from the US market had come. The WIG20 index closed 0.8 percent up. Indices of small and mid-caps ended unchanged.

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Podpis: MG

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