Bloomberg News

Polish Stocks: CEDC, KGHM, Orco Shares Move on Warsaw Exchange

December 09, 2011

Dec. 8 (Bloomberg) -- Poland’s WIG20 Index declined 0.1 percent to 2,250.95 as of 3 p.m. in Warsaw, having earlier risen as much as 0.9 percent.

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

Central European Distribution Corp. (CDC PW), the vodka producer that owns Zubrowka and Parliament brands, rallied 15 percent to 19.1 zloty, heading for the highest close in more than five weeks, after largest shareholder Russian Standard Corp. proposed a plan to cut the company’s debt and buy more shares.

Jefferies Group Inc. upgraded the stock to “buy” from “underperform,” saying Russian Standard’s involvement is “game-changing” for CEDC and that some form of an agreement will probably be reached between the companies.

KGHM Polska Miedz SA (KGH PW), Poland’s sole copper and silver producer, climbed for a second day, increasing 0.9 percent to 123.6 zloty as the price of the metals advanced.

Orco Property Group SA (OPG PW) gained for the first time in three days in Warsaw trading, adding 2 percent to 15.38 zloty after the real-estate developer said it has secured financing from Bank Pekao SA for 100 percent of its investment in the Zlota 44 apartment building in Warsaw.

--Editors: Linda Shen, Peter Branton

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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