Bloomberg News

Polish Stocks: BRE Bank, Getin, KGHM, Lotos, Orlen, Pekao Move

October 12, 2011

Oct. 12 (Bloomberg) -- Poland’s WIG20 Index advanced 54.78, or 2.4 percent, to 2,316.65 at the 5:30 p.m. close in Warsaw, the highest in a month.

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

BRE Bank SA (BRE PW), majority-owned by Commerzbank AG, led gains among financial shares, increasing 3 percent to 258 zloty. Getin Holding SA (GTN PW), the financial-services group controlled by billionaire Leszek Czarnecki, climbed 5.2 percent to 8.71 zloty and Bank Pekao SA (PEO PW), a unit of UniCredit SpA, increased 1.1 percent to 145 zloty.

Banks gained across Europe as European Union Commissioner Olli Rehn said the region’s debt crisis can be resolved.

KGHM Polska Miedz SA (KGH PW), the copper producer with the biggest European mine output, climbed 7.5 zloty, or 5.3 percent, to 148.9 zloty. Copper rose as shrinking Asian inventories of the metal signaled steady demand from the region, which includes top global consumer China.

Netia SA (NET PW) jumped 0.3 zloty, or 6.2 percent to 5.15 zloty, the highest close since Aug. 3. Poland’s second-largest fixed-line phone company was rated “buy” in resumed coverage at Bank Zachodni WBK SA.

PKN Orlen SA (PKN PW), Poland’s biggest oil company, gained for a third day, adding 1.74 zloty, or 4.7 percent, to 38.69 zloty. Grupa Lotos SA (LTS PW), the second-largest refiner, rose 1.62 zloty, or 6.7 percent, to 25.79 zloty. Oil advanced to trade near its highest in three weeks in New York on speculation that European Union proposals on bank recapitalization will support economic growth and fuel consumption.

--Editors: Peter Branton, Alex Nicholson

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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