WIG20 increases losses, trade falls

APA - Austria Presse Agentur
opublikowano: 08-03-2006, 18:40

Warsaw (Puls Biznesu) – Depreciating zloty, falls in Western European exchanges and cheap energy oars caused further decrease on the Warsaw Stock Exchange. The volume of trade fell 10 percent.

Warsaw (Puls Biznesu) – Depreciating zloty, falls in Western European exchanges and cheap energy oars caused further decrease on the Warsaw Stock Exchange. The volume of trade fell 10 percent.

WIG20 ended the day at 2,769.73, or 2.57 percent down. Within the last two days, it has shed 4.8 percent already. Shares of blue chips worth PLN 845m, 10 percent less than on Tuesday. Commodity companies dragged the market down along with falling copper and oil prices. KGHM copper producer and PKN Orlen fuel giant lost over 5 percent each to, respectively, PLN 69.6 and PLN 54.3.

Five blue chips resisted falls, including Bioton, BPH, Orbis, GTC and Netia. PGNiG gas monopoly noted a slight decrease of 0.3 percent. CA IB recommended its stock to ‘buy’ and raised the target price to PLN 4 from PLN 3.9. Today, the stock traded at PLN 3.39. BZ WBK bank has lost over 11 percent within the last two days. Last week, DM Millennium brokerage recommended the stock to ‘reduce’ and lowered the target price to PLN 149. Today, shares cost PLN 153.5.

Centrostal Gdansk construction company jumped 24.6 percent after it was said after the closing bell on Tuesday that Zlomrex bought 516,000 shares, or 9.9 percent of the votes.

 

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Podpis: APA - Austria Presse Agentur

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