WSE: Indices grow to new records

APA - Austria Presse Agentur
19-01-2006, 19:48

Warsaw (Puls Biznesu) - The January effect brought new records to all indices in the Warsaw Stock Exchange. The volume of trade was very high and reached PLN 1.39 billion (EUR 362.1m), or 33 percent more than yesterday when indices were falling. This may be a sign that investors will not slow down until the WIG20 index reaches 3,000 points.

Warsaw (Puls Biznesu) - The January effect brought new records to all indices in the Warsaw Stock Exchange. The volume of trade was very high and reached PLN 1.39 billion (EUR 362.1m), or 33 percent more than yesterday when indices were falling. This may be a sign that investors will not slow down until the WIG20 index reaches 3,000 points.

The strengthening zloty was good news to investors. So were macro data published by the central statistical office GUS concerning the PPI in December. It rose 9.2 percent year-on-year, more than the majority of analysts expected. Another good news is what Minister of Finance Zyta Gilowska said: she sees a possibility to cut interest rates in the nearest future.

On Thursday, the WIG20 index ended at 2,886.48 points, or 2.76 percent higher, and 1.13 percent above recent record of 6th January. 3.93 percent more and the index will grow to 3,000 points. MIDWIG gained 4.2 percent, mainly thanks to Alchemia which jumped over 20 percent.

Commodity companies had another great day. KGHM copper produce and Grupa Lotos fuel company rose to their historical records. KGHM gained 5.4 percent to PLN 73.6, while Grupa Lotos 1.9 percent to PLN 54. TP telecom was worse than the market and ended just 0.8 percent up. TP attracted most attention as far as the volume of trade is concerned - it exceeded PLN 162m. Bioton insuline producer paced advances - shares jumped 13.5 percent. Bioton announced its tender offer to buy shares of Singapurian SciGen. Among WIG20 companies, only Softbank and BRE Bank fell but the volume of trade was small.

(PLN 1 = EUR 0.260)

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Podpis: APA - Austria Presse Agentur

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