WIG20 jumps 8.5 percent on Monday

24-11-2008, 19:12

The WIG20 index is back above 1,700 points.

The WIG20 index opened 1.5 percent up and exceeded 1,600 points. This was just the beginning. Warsaw investors ignored data on the moods in Germany which were the worst in 16 years. There was a euphoria in Warsaw when interest rates were unexpectedly cut in Hungary. The 20 share blue chips index ended 8.5 percent up at 1,721.45 points.

GTC construction company was the best performer among blue chips with nearly 19 percent increase. The homebuilding company was recommended by DM IDM SA today. Polimex Mostostal, another construction company, added 15.7 percent. TVN media group gained 13.7 percent for the third best result among blue chips today. KGHM copper producer paced the advances of the WIG20 index. Its stock rose 12.6 percent today on growing copper prices. The WIG20 index would have grown even more hadn’t it been for Grupa Lotos. The fuel giant was adversely affected by recommendation from UniCredit in which the stock was evaluated at PLN 0. Grupa Lotos shed 6 percent.

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