WIG20 falls paced by KGHM which is disturbed by copper prices

APA - Austria Presse Agentur
27-04-2006, 17:48

Warsaw (Puls Biznesu) – The WIG20 index fell 2.94 percent dragged down by KGHM copper producer. The company fell along with copper prices.

Warsaw (Puls Biznesu) – The WIG20 index fell 2.94 percent dragged down by KGHM copper producer. The company fell along with copper prices.

 

The National Bank of China decided to raise the interest rates to 5.85 percent. This move may decrease the demand for commodities. Copper prices in London fell 1.3 percent to USD 7,132.50. KGHM copper producer was losing even 9 percent during the day to end at PLN 108.5, or 7 percent lower. Shares worth over PLN 300m changed hands. Lotos and PKN Orlen fuel companies lost 5.4 and 3.8 percent respectively after oil prices fell by over USD 2 a barrel.

 

The stock may suffer further decrease in upcoming days. The long weekend will not help the market. There will be trading on May 2 but on May 3 the Warsaw Stock Exchange will be closed. Investors in Poland will probably wait till May 4 to do any moves.

 

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Podpis: APA - Austria Presse Agentur

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Świat / WIG20 falls paced by KGHM which is disturbed by copper prices