WIG20 falls 2 percent this week

APA - Austria Presse Agentur
17-11-2006, 22:09

Warsaw (Puls Biznesu) – After one-day rebound on Thursday, the indices on the Warsaw Stock Exchange fell on Friday.

Warsaw (Puls Biznesu) – After one-day rebound on Thursday, the indices on the Warsaw Stock Exchange fell on Friday.

Despite further records hit by U.S. stock exchanges, the investors in Warsaw paid attention to commodities. Falling oil and copper prices caused decreases in Warsaw. The WIG20 dropped 0.74 percent to 3,125.06 points. The volume of trade, however, was very low and amounted to PLN 631m, the lowest level since October 23rd, and 22 percent less than yesterday. The 3,100 level was defended for the third consecutive day, a sign there may be rises next week. Two companies only attracted more than PLN 100m of trade, including Bioton and KGHM.

Bioton was the worst performer among blue chips. The insulin producer lost 3.8 percent after it revised its 2006 net income forecast down to PLN 90m. Before, the company said that a three-digit income was possible. KGHM fell 2.2 percent to PLN 95. Fuel companies, including PKN Orlen, Lotos and MOL were also doing poorly but the volume of trade amounted to PLN 7-25m in their cases.

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Podpis: APA - Austria Presse Agentur

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