Bloomberg News

BRE Bank, CEDC, Getin, PGNiG: Central European Equity Preview

October 25, 2011

Oct. 25 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in central European markets. Stock symbols are in parentheses after company names. Share prices are from the last close.

Poland’s WIG20 Index gained 2.8 percent, the Czech PX Index climbed 1 percent and Hungary’s BUX Index jumped 2 percent.

BRE Bank SA (BRE PW): Poland’s third-largest bank was downgraded to “underperform” from “market perform” at Keefe, Bruyette & Woods. Its shares jumped 5.8 percent to 279.7 zloty.

Central European Distribution Corp. (CDC PW): The vodka producer, which owns Zubrowka and Parliament brands, was cut to “underperform” from “neutral’ at Bank of America Corp. Its shares increased 2.8 percent to 23.36 zloty in Warsaw trading.

Getin Holding SA (GTN PW): The Polish financial-services group controlled by billionaire Leszek Czarnecki named Rafal Juszczak as its chief executive officer effective Jan. 1, replacing Radoslaw Boniecki. Juszczak was chief executive officer of PKO Bank Polski SA in 2007-2008. Getin gained 3.1 percent to 8.99 zloty.

Polskie Gornictwo Naftowe i Gazownictwo SA (PGN PW): Poland’s dominant gas company also known as PGNiG estimated its third-quarter output at 1.1 billion cubic meters of natural gas and 127,000 tons of crude oil. Its shares climbed 2.9 percent to 3.96 zloty.

--Editor: Stephen Kirkland

To contact the reporters 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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