After Bank of England and ECB left interest rates unchanged, Jean C. Trichet said he worried about GDP growth in the euro zone and inflation in 2008. Demand was lower. The WIG20 got weaker and US unemployment data dragged it even lower.
Not all blue chips fell, however. Growing oil prices supported fuel companies. PKN Orlen and Grupa Lotos gained 2.5 percent. Polnord added 1.56 percent after it had said its margins in Russian investment amounted to 40 percent. Financial companies were the worst performers after Citigroup had changed recommendations for Poland’s biggest banks. PKO BP lost 2.9 percent.
Small and mid-caps did much better. In the last five sessions, mWIG40 has
risen 7.52 percent while sWIG80 has gained 4.25 percent. WIG20 has added only
1.36 percent at that time.