WIG20 sheds over 3 percent this week

APA - Austria Presse Agentur
21-01-2005, 18:04

Friday session was boring, which was reflected in the volume of trade. Shares worth PLN 300 m (EUR 72.9 m) changed hands. Yesterday the level was reached after 90 minutes of trading. The WIG20 index lost 0.46 percent to 1832.12. Since last Friday it has decreased 3.06 percent.

Friday session was boring, which was reflected in the volume of trade. Shares worth PLN 300 m (EUR 72.9 m) changed hands. Yesterday the level was reached after 90 minutes of trading. The WIG20 index lost 0.46 percent to 1832.12. Since last Friday it has decreased 3.06 percent.

PKN Orlen fuel company was doing extremely bad. Yukos stopped its deliveries, while the Polish firm buys 40 percent of its oil from the Russian giant. PKN Orlen’s management calms down and assures that this should not influence production because oil is bought at other sources. Nevertheless, shares price fell 1.4 percent, while shares worth PLN 70 m changed hands.

PKO BP bank fell similarly but not that many shares were traded. KGHM copper producer, Stalexport and several smaller companies from the WIG20 index were doing up for the losses of the giants. TPSA telecom, which was doing quite well during the day, ended down 0.3 percent.

On Friday, and in the whole week, Energoaparatura was the best performer. Investors welcomed the fact that new owners of the company are buying shares of Energoaparatura. Polnord rose, too, after it said it was going to build a mall in Torun, a contract worth PLN 71.5 m. Prochnik clothes company continued growing trend.

(PLN 1 = EUR 0.243)Poland/Stock market report

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Podpis: APA - Austria Presse Agentur

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