WIG20 loses 1.7 percent on Tuesday

APA - Austria Presse Agentur
11-05-2005, 06:58

Warsaw (Puls Biznesu) – After nine consecutive days with the market ending below its opening, WIG20 index shed 1.7 percent to 1,837.1 points, a level reached recently on January 25th. Since the high of February 25th, WIG20 has lost over 13 percent. Today, shares of blue chips worth PLN 450 m (EUR 108 m) changed hands, not that much to be very worried.

Warsaw (Puls Biznesu) – After nine consecutive days with the market ending below its opening, WIG20 index shed 1.7 percent to 1,837.1 points, a level reached recently on January 25th. Since the high of February 25th, WIG20 has lost over 13 percent. Today, shares of blue chips worth PLN 450 m (EUR 108 m) changed hands, not that much to be very worried. Yesterday, the index fell to this year’s minimum of 1,807 points during the day. In the following days, the indices may continue falls.

TPSA telecom was no help today although it fell less then the market (0.8 percent). PKN Orlen fuel giant decreased for the fifth consecutive day, by 2.6 percent. Investors keep cleaning their portfolios to buy shares of Grupa Lotos, Poland’s second fuel company. Since May 4th, PKN Orlen has already shed over 9.5 percent. Prokom IT company is traded below PLN 90, today it fell over 5 percent, a level reached recently in September 2002.

LZPS Protektor shoe producer dived 35.7 percent after its management forecast worse results this year. Investors had been expecting better results.

(PLN 1 = EUR 0.240)Poland/Stock market report

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Podpis: APA - Austria Presse Agentur

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