Warsaw shares fall, Bioton tumbles on cut in sales forecasts |
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Tue, 14 Aug 2007 13:41
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WARSAW (Thomson Financial) - Warsaw shares fell in the afternoon trade as a weaker tone on other European bourses prompted investors to take profit ahead of market holiday tomorrow with Bioton leading the decline after cutting its sales forecast.By 1.10 pm CET, the blue-chip WIG20 index lost 1.23 pct to 3,514.20 and broad-based WIG lost 1.24 pct to stand at 58,966.35.'Tomorrow is a day-off so the trade is fairly quiet,' said Zbigniew Rebisz, dealer at UniCredit (CAIB) brokerage in Warsaw. 'We are following the core markets, which are mostly down today.'Markets will be closed due to a public holiday and trading will resume on Thursday.Shares in Bioton fell 10 pct to their lowest level in more than two years after the company posted flat sales in the second quarter and cut revenue forecasts for 2007 by 12 pct due to a delay in acquisitions.PKN Orlen dropped 1.9 pct after rising to its highest level in five sessions yesterday on the back of better-than-expected results in the second quarter. Its smaller peer Lotos lost 1 pct.piotr.skolimowski@thomson.com +48 22 447 24 36ps1/bsdCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Bioton CEO says 2007 sales should reach 400 mln zlotys 