Bloomberg News

Polish Stocks: BRE Bank, CEDC, Enea, KGHM, Telekomunikacja Move

October 25, 2011

Oct. 25 (Bloomberg) -- Poland’s WIG20 Index dropped 20.97, or 0.9 percent, to 2,349.71 at the 5:30 p.m. close in Warsaw, falling for the first time in three days.

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

BRE Bank SA (BRE PW) declined 1.5 percent to 275.6 zloty, snapping a two-day advance as Poland’s third-largest bank was downgraded to “underperform” from “market perform” at Keefe, Bruyette & Woods.

Central European Distribution Corp. (CDC PW) slumped the most in three weeks, losing 10 percent to 21 zloty in Warsaw trading. The vodka producer, which owns the Zubrowka and Parliament brands, was cut to “underperform” from “neutral’ at Bank of America Corp.

Enea SA (ENA PW) fell 2.2 percent to 19.1 zloty, the steepest one-day drop in a month. Poland’s third-largest power utility was rated "sell" in new coverage at Renaissance Capital.

KGHM Polska Miedz SA (KGH PW), the copper producer with the biggest European mine output, declined 2.6 percent to 146 zloty, falling for the first time in three days. Copper fell as concerns escalated that European leaders are struggling to resolve debt woes.

Telekomunikacja Polska SA (TPS PW) advanced 2.1 percent to 17.95 zloty, its second day of gains. Poland’s largest phone company signed an agreement with trade unions on up to 2,300 voluntary job cuts and minimum 4.5 percent annual pay increases in 2012-2013, the company said in a regulatory statement.

--Editors: Linda Shen, 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


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus