WSE rebounds, there is hope it will grow further

MAG
opublikowano: 12-06-2008, 21:14

Warsaw (Puls Biznesu) – After several very bad days, the WSE saw increases today.

The Warsaw Stock Exchange grew on favorable impulses from abroad. European markets were trading well despite the fact that the US market had fallen deeply yesterday. Dollar rose substantially and oil prices stopped growing. There was a forecast that May retail sales in the USA would grow, good news for the economy.

Warsaw blue chips attracted most trade, as usually but mWIG40 did not manage to get out of the red. However, nearly 50 percent of all companies ended up. Fuel companies were pacing the advances after recent decreases. PKN Orlen ended 4 percent up at PLN 36.6. Meanwhile, Credit Suisse rose its recommendation for the company with a target price of PLN 44.8. Rival Grupa Lotos rose even more but Petrolinvest stayed unchanged. Bioton insulin producer was doing well, too. TP telecom rose more than the index, so did PKO BP bank. Pekao bank all day long was trading lower.

The WIG20 index closed 1.7 percent up at 2,718 points.

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Puls Inwestora / WSE rebounds, there is hope it will grow further