Bloomberg News

Polish Stocks: KGHM, Open Finance, Orco Property, Synthos Moved

November 25, 2011

Nov. 25 (Bloomberg) -- Poland’s WIG20 Index dropped 0.1 percent to 2,163.8 at the close in Warsaw, bringing the benchmark’s weekly decline to 3.4 percent.

The following were 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 2.4 percent to 129 zloty, after copper futures rebounded, tracking gains in commodities and equities, on speculation that leaders in Europe will do more to fight the debt crisis and as inventories slumped in China, the world’s biggest consumer.

Open Finance SA (OPF PW) jumped 3.3 percent to 10.89 zloty, the most in more than two weeks. Poland’s biggest financial- services broker was rated “buy” in new coverage at Citigroup Inc., which set its price projection at 18.4 zloty.

Orco Property Group SA (OPG PW) slumped 10 percent to 14.19 zloty, the lowest close since the stock started trading in Warsaw in 2007. The developer, with much of its business in central and eastern Europe, said its net loss for the third quarter widened amid weakening currencies such as the Hungarian forint and zloty.

Synthos SA (SNS PW) lost 1.8 percent to 3.85 zloty, the lowest close since Oct. 7. The chemical producer controlled by Polish billionaire Michal Solowow had its share-price estimate cut to 4.5 zloty from 5.5 zloty at Raiffeisen Centrobank AG.

--Editors: Linda Shen, Emily Bowers

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

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


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