Bloomberg News

Polish Stocks: KGHM, Lotos, PKN Orlen, PKO Bank Shares Move

October 14, 2011

Oct. 14 (Bloomberg) -- Poland’s WIG20 Index rose 28.23, or 1.2 percent, to close at 2,300.65 at 5:30 p.m. in Warsaw, extending this week’s gain to 5 percent.

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, rose 2.5 percent to 146 zloty, taking its gain so far this week to 7 percent. Copper advanced on signals that demand remains steady in top global consumer China.

PKN Orlen SA (PKN PW), Poland’s biggest oil company, gained 1.4 percent to 38.54 zloty and Grupa Lotos SA (LTS PW), the second-largest refiner, increased 1.1 percent to 27 zloty, its third day of advances. Oil rose as a rescue plan for Europe’s debt-laden economies took shape while better-than-forecast retail sales allayed concerns that the U.S. economy is slowing.

PKO Bank Polski SA (PKO PW), Poland’s biggest bank, jumped 3.6 percent to 35.27 zloty, the highest close in more than a month. HSBC Holdings Plc maintained its “overweight” recommendation, saying the bank’s valuation is “attractive” after a slump and that concerns about weaker earnings are “exaggerated.”

--Editors: Alex Nicholson, Ana Monteiro

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

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


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