Bloomberg News

Polish Stocks: KGHM, Lotos, Orlen, PKO Bank, PZU Shares Move

December 07, 2011

Dec. 6 (Bloomberg) -- Poland’s WIG20 Index declined 50.01, or 2.2 percent, to 2,242.12 at the close in Warsaw, after reaching a two-week high yesterday.

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

KGHM Polska Miedz SA (KGH PW) declined 8 percent to 122.2 zloty, after closing at a two-week high yesterday. Poland’s sole copper and silver producer agreed to acquire Canada’s Quadra FNX Mining Ltd. for about C$2.9 billion ($2.83 billion) to add mines in North America and Chile.

PKN Orlen SA (PKN PW), Poland’s biggest oil company, fell 3.9 percent to 39.51 zloty and Grupa Lotos SA (LTS PW), the second-largest refiner, retreated 2.9 percent to 25 zloty as crude oil declined.

PKO Bank Polski SA (PKO PW), Poland’s biggest lender, lost 2.7 percent to 33.61 zloty and state-controlled insurer PZU SA (PZU PW) fell 1 percent to 326.7 zloty, the first drop in six days. The government plans to sell further stakes in the companies next year to help finance the deficit, PAP reported, citing the budget draft.

--Editors: Linda Shen, Peter Branton

To contact the reporters on this story: Pawel Kozlowski in Warsaw at pkozlowski@bloomberg.net; Marta Waldoch in Warsaw at mwaldoch@bloomberg.net

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


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