Bloomberg News

Polish Stocks: Echo, Lotos, Orco, Orlen, PBG, Warsaw Exchange

October 10, 2011

Oct. 10 (Bloomberg) -- Poland’s WIG20 Index gained 30.35, or 1.4 percent, to 2,220.70 at 2 p.m. in Warsaw, climbing for a fourth day and heading for the highest close in more than two weeks.

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

Echo Investment SA (ECH PW) rose for a second day, adding 0.19 zloty, or 5.4 percent, to 3.7 zloty as the real estate developer controlled by billionaire Michal Solowow was upgraded to “buy” from “hold” at UniCredit SpA.

Orco Property Group SA (OPG PW) soared 1.09 zloty, or 6.9 percent, to 16.99 zloty, heading for the biggest one-day gain since Aug. 19 in Warsaw trading. The property developer expects to sell its Sky Office tower in Duesseldorf before the end of the year, Chief Executive Officer Jean-Francois Ott said.

PBG SA (PBG PW) climbed 5.8 zloty, or 7.9 percent, to 79 zloty, extending this month’s rally to 41 percent. Poland’s third-largest construction company increased its sales forecast by 30 percent to 3 billion zloty ($938 million) and earnings before interest and taxes by 13 percent to 260 million zloty.

PKN Orlen SA (PKN PW), Poland’s biggest oil company, advanced 0.64 zloty, or 1.8 percent, to 35.44 zloty, rising for the first time in three days. Grupa Lotos SA (LTS PW), the second-largest refiner, climbed 0.7 zloty, or 3 percent, to 24 zloty. Oil climbed for a fourth day in New York as investors bet that fuel demand may increase after a pledge by European leaders to contain the region’s sovereign-debt crisis.

Warsaw Stock Exchange (GPW PW) increased 0.4 zloty, or 0.9 percent, to 43.6 zloty, trimming this year’s drop to 11 percent as the operator of central Europe’s biggest equity market was raised to “buy” from “neutral” at Goldman Sachs Group Inc.

--Editors: Alex Nicholson, Peter Branton

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

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


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