WIG20 rebounds losses generated in five days

APA - Austria Presse Agentur
opublikowano: 16-03-2006, 17:36

Warsaw (Puls Biznesu) – The 20 share blue chip index gained 2.17 percent on Thursday. It rebounded the five day losses.

Warsaw (Puls Biznesu) – The 20 share blue chip index gained 2.17 percent on Thursday. It rebounded the five day losses.

The WIG20 index ended at 2,833.52. Stock market gains were spurred by the U.S. inflation data. The Department of Labor said that retail prices rose 0.1 percent in February along with economists’ expectations. Smaller CPI makes the probability of interest rates increase smaller, which makes the U.S. bonds less attractive. Foreign capital will come back to emerging markets.

Although neither oil nor copper rose, investors were buying the stock of PKN Orlen fuel giant and KGHM copper producer, the two Warsaw giants. PKN Orlen jumped 4.36 percent to PLN 59.9 while KGHM added 1.26 percent to PLN 72.4. The volume of trade of TP telecom amounted to PLN 127m for the highest volume in the market. The stock added 3.3 percent to PLN 21.9. DI  BRE Bank raised its recommendation from ‘keep’ to ‘buy’ with target price of PLN 23.9, PLN 0.30 more than before.

GTC homebuilder hit its all-time record reached yesterday. Shares jumped 9.57 percent to PLN 315. Since the beginning of December 2005, the shareholders of the company have earned 125 percent while WIG20 has added over 12 percent in the same time.


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Podpis: APA - Austria Presse Agentur