Bloomberg News

Polish Stocks: KGHM, Lotos, PBG, Voxel Move on Warsaw Exchange

October 11, 2011

Oct. 11 (Bloomberg) -- Poland’s WIG20 Index fell 0.2 percent to 2,273.40, falling for the first day in five.

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

KGHM Polska Miedz SA (KGH PW), the copper producer with the biggest European mine output, fell 1.1 percent to 141.4 zloty, retreating for the first time in five days. Copper declined on concern about the outlook for demand in top global consumer China, where figures due this week may show slower growth in exports.

Grupa Lotos SA (LTS PW) fell 1.4 percent to 24.17 zloty after Mariusz Machajewski, the chief financial officer, said Poland’s second-largest oil refiner won’t be able to reach its forecast of 1 billion zloty ($314 million) in 2011 net income at the current zloty rate, which pushes up the value of its foreign debt.

PBG SA (PBG PW) jumped 4.1 percent to 83 zloty, extending yesterday’s 8.9 percent gain. The construction company, the worst-performing stock in the WIG20 Index this year, raised its sales forecast by 30 percent to about 3 billion zloty ($942 million) and earnings before interest and taxes by 13 percent to about 260 million zloty yesterday.

Voxel SA (VOX PW) slumped 24 percent to 14.5 zloty as the provider of medical diagnostic services started trading on the Warsaw Stock Exchange’s NewConnect market for smaller companies.

--Editors: Wojciech Moskwa, Gavin Serkin

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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