WSE investors did not feat Fed’s decision

MG
31-01-2008, 20:59

Warsaw (Puls Biznesu) – There are no chances for further gains on the WSE, analysts believe.

 

The decision to cut interest rates in the USA adversely affected the Warsaw Stock Exchange. The market opened low and was falling all day long. Blue chips were doing worse than small and mid caps. TP telecom was losing after yesterday’s jump. Pekao bank and KGHM copper producer were very weak. BRE Bank was doing poorly after it had announced net income below forecasts. Foreign investors might be discouraged by World Bank’s opinion that the region faces economic slowdown.

 

The WSE was weakened by US macro data published in the afternoon. The number of newly unemployed people rose much above forecasts for the highest increase in two years. December spending of Americans were discouraging as well.

 

WIG20 index shed 2 percent, mWIG40 and sWIG80 lost 0.5 percent each while the volume of trade amounted to PLN 1.5bn.

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Podpis: MG

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