Bloomberg News

Polish Stocks: KGHM, Lotos, Millennium, Orlen, Pekao, PKO Bank

October 21, 2011

Oct. 21 (Bloomberg) -- Poland’s WIG20 Index jumped 83.33, or 3.8 percent, to 2,305.42 at the 5:30 p.m. close in Warsaw, climbing the most in three weeks. The measure has advanced 0.2 percent this week.

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

PKO Bank Polski SA (PKO PW), Poland’s biggest bank, rose 5.8 percent to 35.59 zloty, the highest close since Aug. 31. Bank Pekao SA (PEO PW), majority-owned by UniCredit SpA, climbed 6.1 percent to 142.5 zloty and Bank Handlowy SA (BHW PW), a unit of Citigroup Inc., increased 6.1 percent to 71.9 zloty.

Financial shares jumped across Europe on speculation that European governments may end a deadlock on fighting the region’s debt crisis.

KGHM Polska Miedz SA (KGH PW), the copper producer with the biggest European mine output, soared 6.3 percent to 142.5 zloty, snapping a four-day drop, as the price of the metal rebounded.

Bank Millennium SA (MIL PW) rose 2.1 percent to 4.46 zloty, climbing for the first time in four days. The Banco Comercial Portugues SA unit said third-quarter net income rose to 125 million zloty ($39 million) from 76.3 million zloty a year earlier. That exceeded the 121.9 million-zloty average estimate of seven analysts surveyed by Bloomberg News.

Investors interested in buying the unit from Banco Comercial will meet with the bank’s management next week as part of due diligence process, Parkiet reported, citing a person close to one of the foreign bidders it didn’t name.

PKN Orlen SA (PKN PW), Poland’s biggest oil company, rose 2.8 percent to 38.55 zloty, snapping a three-day decline, and Grupa Lotos SA (LTS PW), the second-largest refiner, gained 2.2 percent to 26.9 zloty as crude oil rose for the first time in three days.

--Editors: Wojciech Moskwa,

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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