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The Warsaw Voice » Business » October 24, 2002
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Polish Stocks Lower
October 24, 2002   
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The Warsaw bourse's key WIG 20 index is expected to open lower Oct. 22 amid weaker global sentiment, but traders said the country's recent upbeat economic figures should provide support for the market.

Trade will likely focus on the largest and most liquid stocks of telecoms TP SA, copper conglomerate KGHM, Bank Pekao and oil group PKN Orlen. The market is likely to ignore upbeat results from BIG Bank Gdański, which said Oct. 21 its nine-month net profit soared to zl.247 million ($59.6 million) from zl.16 million in the same period in 2001.

The good performance was due mainly to the disposal of the bank's pension fund, and was largely priced into the stock before Monday's announcement. On Oct. 21 the WIG 20 closed at 1,136.1 points, a sliver below Friday's close at 1,136.3, on heavy turnover of zl.263 million ($63.48 million).

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