Black Monday rocks WSE and bank stocks
The WIG20 dropped by 5.69 percent, which was the largest one day fall since January. The broader WIG went down by 5.4 percent.
Although prices dropped significantly, WSE president Ludwik Sobolewski declared that there are no reasons to suspend trading, as was the case again in Russia. The fall took place amid relatively low turnover of zł.1.1 billion. "The strong falls are a result of significant engagement of foreign investors on the WSE who are currently backing away," said Sobolewski.
The decrease was chiefly triggered by the share prices of KGHM, which lost 10.1 percent, as well as the whole banking sector. BRE Bank went down by 11.13 percent, BZ WBK by 5.85 percent, PKO BP by 7.82 percent and Pekao SA by 6.16 percent.
Sources: Rzeczpospolita, Gazeta Wyborcza, Dziennik, Parkiet (A.K.)
Although prices dropped significantly, WSE president Ludwik Sobolewski declared that there are no reasons to suspend trading, as was the case again in Russia. The fall took place amid relatively low turnover of zł.1.1 billion. "The strong falls are a result of significant engagement of foreign investors on the WSE who are currently backing away," said Sobolewski.
The decrease was chiefly triggered by the share prices of KGHM, which lost 10.1 percent, as well as the whole banking sector. BRE Bank went down by 11.13 percent, BZ WBK by 5.85 percent, PKO BP by 7.82 percent and Pekao SA by 6.16 percent.
Sources: Rzeczpospolita, Gazeta Wyborcza, Dziennik, Parkiet (A.K.)
