Bloomberg News

Polish Stocks: Jastrzebska, KGHM Shares Move on Warsaw Exchange

January 04, 2012

Jan. 3 (Bloomberg) -- Poland’s WIG20 Index was little changed, rising less than 0.1 percent to 2,194.66 at 10:38 a.m. in Warsaw, after closing at a three-week high yesterday.

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

Jastrzebska Spolka Weglowa SA (JSW PW) jumped 2.9 percent to 88.1 zloty, climbing for a second day. Poland’s largest publicly traded coal producer plans to increase output of coking and thermal coal by 700,000 tons this year from more than 12.6 million tons in 2011, the company said in an e-mailed statement.

KGHM Polska Miedz SA (KGH PW), Poland’s sole copper and silver producer, fell 2 percent to 115.5 zloty, after rising the most in more than two months yesterday. The updated formula for a new tax on extraction of the metals published by the Finance Ministry yesterday is still “unsatisfactory” compared with the global standards, Chief Executive Officer Herbert Wirth said in an interview with TVN CNBC television today. The state- controlled company may have to limit investment and takeover plans if the new tax is introduced, Wirth said.

--Editors: Stephen Kirkland, Pawel Kozlowski

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


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus