WSE: Not much is left of summer rebound

MAG
opublikowano: 2008-08-27 20:49

Warsaw (Puls Bizesu) – The WIG20 index shed 1.22 percent on Wednesday. The index was trading even worse during the day and fell to 2,502.01 points. Surprising, small caps rose 0.3 percent.

The 20 share blue chips index was trading dangerously close to the psychological barrier of 2,500 points. It did not fall below it, however. Investors did not react to the decision of the Monetary Policy Council to leave interest rates unchanged as they expected it. The WSE rebounded on better than expected data concerning orders for durable goods in the USA. The index ended at 2,513.16 points.

Only two blue chips ended up, including KGHM copper producer which gained 2.2 percent and Cersanit tile producer with 0.3 percent increase. PKO BP and BRE Bank were adversely affected by lower recommendation from Merrill Lynch. PKO BP shed 2.5 percent while BRE Bank ended 2.1 percent down.

sWIG80 was supported by Kernel stock. The Ukrainian grain exporter attracted PLN 45m of trade, worse only than blue chips: PKO BP and TP. The company ended 2.7 up. Krezus jumped 7.4 percent while Midas 12.6 percent.

Shares worth PLN 909m changed hands, for the best result this week.