WSE faces further growths accompanied by zloty appreciation

APA - Austria Presse Agentur
09-08-2006, 19:45

Warsaw (Puls Biznesu) – In the morning, the Warsaw indices fell to rebound dynamically despite favorable Fed’s decision concerning the U.S. interest rates. The WIG20 index was even in the red but it ended up.

Warsaw (Puls Biznesu) – In the morning, the Warsaw indices fell to rebound dynamically despite favorable Fed’s decision concerning the U.S. interest rates. The WIG20 index was even in the red but it ended up.

 

The Warsaw Stock Exchange started poorly along with Western European stock markets. However, good results of several U.S. blue chips and the rebound in the West, caused increases in Warsaw. The WIG20 ended 2.41 percent up at 3,070.78 points. Shares of blue chips worth PLN 1.17 billion changed hands. Further appreciation of the zloty may be a sign that the foreign capital is back in Poland.

 

Today, PKN Orlen fuel giant attracted most trade. The Polish company may pay less for Mazeikiu stake. The Lithuanian minister of economy assured that the problems with oil delivery will not influence the finalization of the transaction with the fuel company. PKN Orlen soared 3.4 percent to PLN 54.9 while shares worth PLN 235m changed hands. Grupa Lotos fuel firm added 6.4 percent while shares worth PLN 53m changed hands. Fuel companies rose on growing oil prices. Copper prices increase helped the copper giant: KGHM ended 1.7 percent up at PLN 117.

 

Muza publishing house was the best performer. The stock jumped 20.8 percent after it signed agreement with Egina to buy Wydawnictwo Wilga publishing house. The listed company wants to merge with Wilga in the future. Shares worth PLN 12.3m changed hands. The investors of W.Kruk luxury goods producer, believed in optimistic promises of the company’s management. The stock added 4.6 percent to PLN 68.8, the highest level in the history. The management would like to exceed this year’s plan of PLN 7.5m of net income against PLN 128.7m of sales.

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Podpis: APA - Austria Presse Agentur

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