All WSE indices rebounded when oil prices dived by 3 percent. The WIG20 index ended 0.03 percent down, which was a good result as compared to other European markets. FTSE lost nearly 1.2 percent while French CAC nearly 0.4 percent.
Agora media group and TVN TV broadcaster paced the advances. Both companies jumped nearly 5 percent. KGHM copper producer lost nearly 1 percent despite growing copper prices. Banks were doing poorly although they have recently dragged the market up. BZ WBK, PKO BP and BRE Bank were the worst performers. Pekao managed to resist the downward trend and attracted 1/5th of the whole volume of trade. Companies from Roman Karkosik group were losing after yesterday’s rebound. Krezus and Boryszew lost 5.5 percent each. Midas, Hutmen, Skotan and Suwary shed 3.5 percent. Impexmetal and Alchemia on the other hand continued the upward trend. LC Corp jumped 4 percent. Companies from Ryszard Krauze group were losing. Petrolinvest oil company shed for the third consecutive day while Polnord homebuilding company fell to its lowest level in 20 months on the news its Polish-Spanish partner Fadesa-Prokom has problems. Both firms lost 2 percent.
Oponeo, the online company selling tires, jumped 9 percent after a 6 percent
increase on Monday. The company reported net sales in June which were 100
percent higher than a year earlier. DM PKO BP kept ‘buy’ recommendation and
raised the target price to PLN 20, up from PLN 15.5.