WSE ends down, indices may fall deeper

MAG
opublikowano: 2008-06-03 08:50

Warsaw (Puls Biznesu) – The Warsaw Stock Exchange, similarly to other markets in the region, saw its indices fall slightly on Monday. Analysts fear that the decreases may deepen and only substantial inflow of capital may reverse the market trends.

After US stock exchanges ended neutral on Friday and Asian markets were trading good, indices rose in morning. The WIG20 opened 0.16 percent up at 2,909.89 points. However, it started to loose quickly and was trading 0.1-0.4 percent down all day long. The 20 share blue chips index ended 0.45 percent down at 2,892.23 points. Shares worth only PLN 688.3m changed hands, or 44.6 percent less than on Friday. Shares of PKN Orlen fuel giant, KGHM copper producer and PKO BP bank attracted trade of above PLN 100m.

Although Noble Bank said that its second quarter results would be no worse than in the first quarter, the stock shed 1.7 percent. Getin bank owned by Noble Bank decreased 2.8 percent. Relpol which said before the market opened that it was planning a buy-back ended 1.6 percent up. Internet Group media group which had presented its 2008 and 2009 forecasts jumped 4.5 percent.