Warsaw stock prices tumble as world recession looms

The blue-chip index WIG20 decreased by 4.5% yesterday to its lowest level in six weeks. The capitalization of the companies from WIG20 fell by zl.16.4 billion yesterday and 25 companies suffered a double-digit decrease in their stock prices. The WSE as a whole was down 4.4% at the close of trade."Monday's WSE session was already a warning signal," stated Tomasz Nowak, a broker with Millennium DM, "After a high opening and WIG20 increasing to its record value, the index decreased and the investors did not attack again."He added that the situation on the world market coincided with investors' disappointment with the results of listed companies. "In many cases they were not up to expectations" stated Nowak. (Puls Biznesu, pp, 1, 12-13,26-27) E.B.