WIG20 outperforms its European peers

MAG
26-11-2008, 18:26

Warsaw (Puls Biznesu) – While the biggest European stock exchanges stopped their upward trend on Wednesday, the WIG20 index rose for the fourth consecutive day.

The 20 share blue chips index opened 0.5 percent down today. Then, however, it rebounded supported by positive macro data (lower unemployment, higher retail sales). The WIG20 index was about to exceed the level of 1,800 points but it did not manage to do this. Even interest rate cut did not support it. However, the index ended 0.2 percent up.

GTC construction company has been one of the best performers in the last four sessions. It has jumped 20 percent since Friday. KGHM has increased 9 percent. BRE Bank has added 10 percent in four days. Bioton insuline producer and Grupa Lotos fuel company have shed 10 percent each for the worst performers among blue chips.

Today, Kruk and Vistula jumped 7.2 and 16 percent respectively on the news that final accord for their merger has been made. Immoeast, Austrian homebuilding company was the worst performer today with 18 percent dive on the news that police has controlled the company.

Shares worth PLN 1.2bn changed hands today.

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