Bloomberg News

Polish Stocks: Handlowy, KGHM, Lotos, Orlen, PKO Bank Moved

November 30, 2011

Nov. 30 (Bloomberg) -- Poland’s WIG20 Index jumped 105.54, or 4.8 percent, to 2,288.07 at the 5:30 p.m. close in Warsaw, the biggest gain since May 2010. The benchmark dropped 5 percent this month.

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, soared 5.8 percent to 33.42 zloty, the biggest gain in more than a month. Bank Pekao SA (PEO PW), controlled by UniCredit SpA, climbed 6.8 percent to 146.3 zloty and Bank Handlowy SA (BHW PW), a unit of Citigroup Inc., rose 8.4 percent to 71.6 zloty.

Financial shares soared in Europe as the Federal Reserve and five other central banks lowered the cost of dollar funding and China cut its reserve ratio for lenders.

Separately, PKO will report record net income this year, Chief Executive Officer Zbigniew Jagiello said in an interview on Radio PiN.

Grupa Lotos SA (LTS PW), the second-largest refiner, added 4.6 percent to 25 zloty, the biggest gain in a month. Oil futures climbed as much as 2 percent following the move by the central banks.

KGHM Polska Miedz SA (KGH PW), a copper producer with the biggest European mine output, gained the most in two weeks, adding 4.3 percent to 132.5 zloty as the price of the metal advanced.

PKN Orlen SA (PKN PW), Poland’s largest oil company, gained 5.8 percent to 40.19 zloty, the highest close in three weeks. Refining margins at Poland’s largest oil company are likely to be better in the fourth quarter than the third, Chief Financial Officer Slawomir Jedrzejczyk said.

--Editors: Peter Branton, Ash Kumar

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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