WIG20 falls to its new low

MAG
15-09-2008, 20:31

Warsaw (Puls Biznesu) – The Warsaw Stock Exchange indices reacted today to the changes on the US financial market.

The WIG20 index opened 40 points down and then dived below its July low of 2,404 points, shed below the psychological level of 2,400 points and ended 3.81 percent lower at 2338.26 points. WIG fell below 38,000 points. mWIG40 shed below 2,400 points while sWIG80 dropped below 10,000 points.

PKO BP and Pekao banks as well as TP telecom attracted PLN 520m of trade, or 46 percent. The two biggest banks lost 4 percent each and dragged the blue chips index by 1.3 percent. Food companies were the worst performers, however, their sub-index losing 6.1 percent. PGNiG gas monopoly was doing better than the market, it shed 1.2 percent on falling oil prices.

Companies from Michal Solowow portfolio were eagerly traded with. Barlinek floor producer which after thorough analyses decided not to start building a PLN 400m factory in Russia, shed 4.4 percent. So did Cersanit ceramics producer (-5.9 percent), despite the fact that the company had delivered its products to the toilets of the newly built stadium Dnipro. Echo construction company dived 9.3 percent.

Petrolinvest fuel company gained 5.9 percent on the news it is increasing its stakes in several companies in Kazakhstan.

© ℗
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Podpis: MAG

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