Window dressing helps indices

APA - Austria Presse Agentur
31-03-2005, 18:52

Warsaw (Puls Biznesu) – The end of the quarter was the reason of rises on the Polish stock exchange GPW. Fund managers wanted to show their clients unit price growth, therefore they cared for rises in the stock market.

Warsaw (Puls Biznesu) – The end of the quarter was the reason of rises on the Polish stock exchange GPW. Fund managers wanted to show their clients unit price growth, therefore they cared for rises in the stock market.

Funds focused on two companies, including TPSA telecom and Pekao S.A. bank. The WIG20 index grew to 1,998.33 points, or 0.95 percent. Kety were doing well, too – shares added 4.9 percent. The management will recommend to pay out dividend of PLN 4 (EUR 0.98) a share. Before, the management said that if a big acquisition is finalised this year, there will be no dividend. It looks like there will be no acquisition, which in longer term may adversely affect the company.

PKN Orlen fuel giant shed 2.4 percent because trade unions are getting ready to start group clash. In addition, ING lowered its recommendation for PKN Orlen’s shares from ‘buy’ to ‘hold’. Orbis hotel operator fell over 1.5 percent although CAIB still recommends to buy its shares and evaluates them at PLN 31 each. Today, the shares cost PLN 24.3.

 (PLN 1 = EUR 0.245)Poland/Stock market report

 

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Podpis: APA - Austria Presse Agentur

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