Bloomberg News

Polish Stocks: Getin, Grupa Kety, KGHM, Kredyt Bank Shares Move

September 28, 2011

Sept. 28 (Bloomberg) -- Poland’s WIG20 Index fell for the first time this week, losing 21.72, or 1 percent, to 2,181.59 at the 5:30 p.m. close in Warsaw. The measure has slumped 22 percent this quarter.

The following are among the most active stocks on the Warsaw Stock Exchange today. Stock symbols follow company names.

Getin Holding SA (GTN PW) climbed for a second day, adding 0.05 zloty, or 0.7 percent, to 7.21 zloty. The financial- services group controlled by billionaire Leszek Czarnecki was upgraded to “buy” from “hold” at Raiffeisen Centrobank AG.

Grupa Kety SA (KTY PW) gained the most in a month, adding 3 zloty, or 3.5 percent, to 90 zloty. Poland’s biggest aluminum products maker expects third-quarter net income to reach 32 million zloty ($9.9 million) to 33 million zloty as sales advanced to as high as 400 million zloty, a record level, the company said in a regulatory statement.

KGHM Polska Miedz SA (KGH PW), the copper producer with the biggest European mine output, fell 2.8 zloty, or 2 percent, to 134.7 zloty. Copper declined in New York amid concerns a slowing global economy may reduce demand for the metal and as a report showed orders for U.S. durable goods fell in August.

Separately, Erste Group Bank AG cut its recommendation for the stock to “hold” from “buy.”

Kredyt Bank SA (KRB PW) soared 0.78 zloty, or 6.8 percent, to 12.27 zloty, rising the most in three weeks. Banco Santander SA completed initial due diligence on the lender and made its owner, KBC Groep NV, a preliminary offer, Gazeta Wyborcza reported, citing two people it didn’t identify.

--Editors: Linda Shen, Peter Branton

To contact the reporter on this story: Pawel Kozlowski in Warsaw at pkozlowski@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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