A few up, but more down

The WIG broad market index in the last weeks of February and early March remained at its level of mid-February, while the WIG 20 lost just under 2 pct. The Warsaw Stock Exchange moved to the rhythm of the news from Greece, as an agreement was finally struck on the restructuring of its debt and the paying out of another tranche of aid by the International Monetary Fund. Investors were focused on company results, which turned out to be better than expected in many cases, and yet were too weak an incentive to buck the global trends on the financial markets. Unfortunately, the WIG-Construction and WIG-Developers sub-indexes lapsed into their depressing habit of falling behind the main indexes - slipping by 13 pct and 10 pct respectively.When it comes to construction companies, it is worth looking at the biggest players. In 2011 Budimex registered a net profit of nearly PLN 261 mln, with its revenue exceeding PLN 5.5 bln. Its profit dropped slightly (by PLN 7 mln), while revenue grew by ove