Bloomberg News

Polish Stocks: KGHM, Bank Millennium, Warsaw Exchange Move

December 20, 2011

Dec. 20 (Bloomberg) -- Poland’s WIG20 Index rose 1.5 percent to 2,136.95 points, paring this year’s decline to 22 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, gained 1.9 percent to 106.6 zloty, rising for the first time in seven days, after signing a deal to sell copper cathodes to China Minmetals Corp. from 2012 through 2016. The Polish company values the agreement at $1.83 billion to $3.66 billion.

Bank Millennium SA (MIL PW) fell 1.8 percent to 3.31 zloty, the lowest close since July 2009. Banco Comercial Portugues SA decided to keep its majority stake in the Polish unit after receiving offers for its acquisition.

Warsaw Stock Exchange (GPW PW) gained 2 percent to 34.9 zloty, snapping an eight-day decline. The operator of Poland’s sole equity market expects to pay close to 100 percent of its 2011 net income as a dividend and plans to follow a policy of paying “high dividends” in coming years, Chief Executive Officer Ludwik Sobolewski said at a news conference in Warsaw today.

--Editors: Ash Kumar, Linda Shen

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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