WIG20 grows but the volume of trade is very low

(Paweł Kubisiak)
25-09-2006, 18:09

Warsaw (Puls Biznesu) – After four days of decreases, the WIG20 index rebounded on Monday. The volume of trade was not optimistic, however.

Warsaw (Puls Biznesu) – After four days of decreases, the WIG20 index rebounded on Monday. The volume of trade was not optimistic, however.

Shares of blue chips worth PLN 400m changed hands, the lowest level since August. The WIG20 ended up only because of increases in Euroland and the rebound in Budapest. Politics disturbed the Polish market. The question remains open whether PSL, the peasant’s party, will join the coalition. If not – there will be sooner elections.

Western European capital will not quickly come back to Poland, especially after “The Financial Times” wrote that the Polish government is not taking its chance because of big economic growth. GUS confirmed this data: the third quarter GDP dynamics shows stabilization more than increase.

KGHM copper producer was the only company to attract over PLN 100m of trade. Shares ended 0.3 percent up at PLN 98.75. Fuel companies were losing, including PKN Orlen (-0.3 percent) and Lotos (-1.9 percent) along with falling oil prices. TP telecom gained 1 percent but shares worth only PLN 30m changed hands. Investors were not worried with PLN 100m of fine from electronic authorities.

Among smaller companies, the following noted double-digit growth: Odlewnie, Pollena Ewa, Mostostal Plock, Amrest, Ferrum and NFI Kwiatkowski. The latter jumped 47 percent. The fund has the stocks of Vistula and Wolczanka among its assets. The two companies are buying Galeria Centrum from Empik Media & Fashion.

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Podpis: (Paweł Kubisiak)

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