Moments later than 13 shares in KGHM in just a few minutes jumped from 89 zł to a level of 99.6 zł. Some investors may experience deja vu, because a similar situation took place on Friday.
[Update pm. 13:59: Currently KGHM is valued at 100,30 zł (10.5%)]
Before noon shares in KGHM were approximately per cent below the line, but enough for a few minutes to around the 13:30 was 9% above it. This effect most likely caused a PiS politicians who informed about a proposal to tax liquidation of minerals.
“In February 2012 on Lubin held a meeting away club
Law and Justice parliamentary. Then adopted a position which
we paid attention to the threat posed by the introduction of tax
copper and silver, for inhibiting the development of copper mining in
Poland. Our predictions proved to be true. Unfortunately, the profitability
individual plants in the basin Lubin falls (…) “- said Mariusz Blaszczak, head of the PiS parliamentary club.
This tax is introduced only three years ago he had to give up the signs to the shareholders of KGHM-in. It caused a significant drop in profits and dividends and significantly contributed to the weakening of the stock market’s attractiveness.
This is not the first such situation in recent times. Barely on Friday, also about an hour 13, investors can observe almost the same situation in the securities of the company. Just like today, the shopping fueled speculation about a tax on minerals. Then hope for the reduction associated with a visit to the government in Lower Silesia. This time for “supporting KGHM-in” took up the opposition.
KGHM in recent days, however, very largely lost. It was a largely derivative declines in prices of main products of the company -
raw materials. Silver and copper are the cheapest date for years. Negatively on
the perception of the company’s work also rumors concerning support by KGHM
government fund to rescue the mining industry. There was even a recommendation suggesting a valuation of the shares in the company at 69.2 zł.
Adam Torchała
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