Bloomberg News

Polish Stocks: Enea, Jastrzebska, KGHM, Pekao, PZU Move

November 15, 2011

Nov. 14 (Bloomberg) -- Poland’s WIG20 Index jumped 25.91, or 1.1 percent, to 2,314.35 at the 5:30 p.m. close in Warsaw, the biggest gain in more than a week. Markets were closed Nov. 11 for a public holiday.

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

Enea SA (ENA PW) climbed 1.7 percent to 18.45 zloty after Poland’s third-largest power utility said third-quarter net income rose to 307.4 million zloty ($96 million) from 183.4 million zloty a year earlier. That beat the 212.7 million-zloty mean estimate of seven analysts surveyed by Bloomberg.

Jastrzebska Spolka Weglowa SA (JSW PW), Poland’s largest coking coal producer, rebounded from a three-week low, adding 3.2 percent to 90.9 zloty. Third-quarter net income rose to 583.7 million zloty from 569.1 million zloty, beating the 498.8 million-zloty mean estimate of five analysts surveyed by Bloomberg.

Fourth-quarter earnings before interest, tax, depreciation and amortization will at least match the 959 million zloty the company posted during the third quarter, Chief Executive Officer Jaroslaw Zagorowski said in Warsaw today.

Kernel Holding SA (KER PW) dropped the most since Sept. 22, falling 5.2 percent to 62.45 zloty. Ukraine’s largest sunflower- oil producer posted net income for the first quarter ended Sept. 30 of $32.9 million, down from $34.2 million a year earlier. The result was below the $48 million mean estimate of eight analysts surveyed by Bloomberg.

KGHM Polska Miedz SA (KGH PW), Poland’s sole copper producer, jumped 4.1 percent to 163.5 zloty, rising for the first time in three days. Copper climbed as new governments in Italy and Greece eased concern about Europe’s ability to contain its sovereign-debt crisis.

Bank Pekao SA (PEO PW), Poland’s second-largest bank, rose 2.7 percent to 141.7 zloty, the biggest gain in more than two weeks. Third-quarter net income climbed to 766.3 million zloty from 659.7 billion zloty a year earlier, exceeding the 726.4 million-zloty average estimate of 14 analysts in a Bloomberg survey.

PZU SA (PZU PW) rose 0.8 percent to 318 zloty, snapping a five-day decline as Poland’s biggest insurer was upgraded to “buy” from “neutral” at UBS AG.

--Editors: Peter Branton, Wojciech Moskwa

To contact the reporters on this story: Pawel Kozlowski in Warsaw pkozlowski@bloomberg.net; Dorota Bartyzel in Warsaw at dbartyzel@bloomberg.net

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


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