WIG20 loses less thanks to banks

05-11-2007, 20:11

Warsaw (Puls Biznesu) – WIG20 spent half of the day today trading 1 percent down. However, in the afternoon PKO BP and Pekao rebounded and saved the 20 share blue chips index from further losses.

WIG20 ended 0.42 percent below its Friday level dragged down by KGHM copper producer. The stock of the company shed 3 percent after the management said that results in the third quarter could not be as good as in the third one. In addition, DI BRE Bank brokerage house recommended to reduce the stock and estimated the target price at PLN 118 against PLN 126 today. GTC homebuilding company was the best performer today with 3.7 percent jump to PLN 50. TVN media group rose 2.8 percent to PLN 25.7 despite ‘sell’ recommendation from Goldman Sachs. Bioton insulin producer fell to PLN 1.05, the lowest level since June 2005.

Small and mid-caps did worse then blue chips. sWIG80 lost 1 percent while mWIG40 decreased 0.7 percent.

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