Warsaw (Puls Biznesu) – Small decreases of indices plus smaller volume of trade were noted on the Warsaw Stock Exchange on Friday.
WIG20 fell 1.5 percent to 3,298.03 points on Friday. WIRR, the index of the small caps, dropped 0.3 percent. MIDWIG grew 0.03 percent and ended above the level of 3,000 points for the first time in history. The volume of trade fell. Shares of blue chips worth PLN 860m changed hands while a day earlier it amounted to PLN 1.33 billion.
Further losses in the Wall Street and European markets as well as depreciating zloty dragged the market down. PKN Orlen was the heaviest anchor. The stock of the fuel giant lost 4 percent after the company warned that its first quarter results would be worse than expected. Moreover, Czech Agrofert filed another suit against PKN over the assets of Unipetrol. Agrofert demands EUR 77.3m from the Polish fuel giant. KGHM copper producer lost 3 percent to PLN 131 although copper rose to USD 8,589.5 a ton and CAIB raised its recommendation to PLN 150.
Shareholders of Poland’s two largest banks which presented better than expected first quarter results stayed calm. PKO BP had PLN 481.95m of consolidated net income against PLN 447.3m of forecast. Pekao had PLN 418.86m of net income against PLN 393.2m of average expectations. PKO BP fell 0.3 percent to PLN 39.4 while Pekao shed 1.9 percent.