WSE adversely affected by lack of capital

opublikowano: 18-08-2008, 21:14

Warsaw (Puls Biznesu) – WSE indices fell while the volume of shares was very low.

Shares worth only PLN 790m changed hands on Monday, similarly to the level as of August 11th (PLN 730m). TP telecom grew 0.44 percent and shares worth PLN 180m changed hands. PKO BP and Pekao banks were doing very well as well. Cersanit tiles producer gained nearly 2 percent. Polnord rose for the second consecutive day. KGHM copper producer started up but then decreased on lowered recommendation from UniCredit (from ‘buy’ to ‘keep’). In addition, copper prices were falling. PKN Orlen fuel giant, TVN media group and GTC homebuilding company also dragged the market down. Getin bank dropped after four days of growth on the news KBC had lowered its target price to PLN 11.6. Today, the stock closed at PLN 10.2.

Small and mid caps did slightly worse but there were several great opportunities. Optimus IT company jumped 30.6 percent to PLN 1.58, up from PLN 0.91 in the middle of July. On Thursday, the company said it had PLN 0.25m of consolidated net loss in the second quarter against PLN 4.39m of loss a year earlier. Midas and Krezus, companies from Roman Karkosik group, lost 18 and 16 percent respectively. Impexmetal shed 7 percent.

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