Warsaw (Puls Biznesu) – On Friday, the WIG20 index noted a symbolic rise of 0.04 percent to 1,874.04 points. At the opening, however, the benchmark jumped higher. This week, the index managed to increase by 1 percent. The benchmark was paced by TPSA telecom and KGHM copper producer. The latter presented results better than expected. The index did not stay long that high as investors were discouraged on the day that PM Marek Belka said he would step down. The President did not accept his resignation and the government will stay till election in fall.
KGHM and TPSA lost. The copper producer ended the day 1.3 percent up, while shares worth only PLN 23 m (EUR 5.5 m) changed hands. PKN Orlen fuel giant was dragging the index down, it was losing as much as 3 percent during the day but then it rebounded and ended 0.7 percent down. Igor Chalupiec, PKN Orlen CEO helped his company and said that first quarter results will not be dissappointing. The report will be published on May 16th.
Among smaller companies, Jutrzenka sweet producer had another great day after it published record first quarter results. Yesterday, shares rose 17 percent. Today, 14.8 percent. Strzelec brewery shed 9.4 percent to PLN 0.58, the lowest level ever.
(PLN 1 = EUR 0.241)
Poland/Stock market report