date=9/2/94
type=correspondent report
number=2-164511
title=Central Europe Stocks (l only)
byline=Barry Wood
dateline=Prague
content=
voiced at:
Intro: The increasingly vibrant stock markets in three
post-communist Central European nations registered mixed
performances this past week. V-o-A's European economics
correspondent Barry Wood has more from Prague.
Text: Warsaw continues to be Central Europe's most volatile
exchange. The market index was down just under ten percent in
the last two trading sessions of the week. In two weeks, the
Warsaw exchange has lost 15 percent of its value. Analysts blame
technical factors and uncertainty about the prospects for finally
putting Poland's mass privatization program into effect. Less
than 30 companies are traded on the Warsaw exchange.
In Prague, prices were essentially unchanged for the week. Some
three hundred companies are traded, and the Prague exchange later
this month will open five days a week. Currently the Prague
exchange trades only on Mondays, Tuesdays and Thursdays. Since
the beginning of the year, prices in Prague have fallen nine
percent.
The best performing Central European market is Budapest. That
market was flat this week -- but for the year thus far is up an
impressive 38 percent.
Investors in Central Europe worry about the viability of some of
the privatised companies whose shares are publicly traded. There
have been recurrent predictions that some well-known firms could
go bankrupt if they were cut off from credit. So far this has
not happened, but the worries remain. Fearing the political
effects of rising unemployment, governments are reluctant to be
seen as forcing enterprises out of business.
Nonetheless the Central European markets are attracting attention
in the West. New York's Oppenheimer brokerage this week
announced the creation of a Czech investment fund for its mainly
American institutional clients. The Czech Republic fund's shares
will be traded on the Prague stock exchange. Two thirds of the
fund's capital will be invested in Czech companies, the remainder
in Austria, Hungary, Poland and Slovakia. (Signed)
neb/bdw/aden/mmk
02-Sep-94 12:31 pm edt (1631 utc)
nnnn
source: Voice of America
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A tovabbterjesztest a New York-i szekhelyu Magyar Emberi Jogok
Alapitvany tamogatja.
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Reposting is supported by Hungarian Human Rights Foundation News
and Information Service.
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