Bloomberg News

Polish Stocks: Ciech, Get Bank, New World Resources, PKO, TPSA

January 24, 2012

Jan. 23 (Bloomberg) -- Poland’s WIG20 Index climbed 9.36, or 0.4 percent, to 2,270.38 at 3:43 p.m. in Warsaw, rising for a sixth day.

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

Ciech SA (CIE PW) lost 1 percent to 18.8 zloty, a week low on a closing basis. Poland’s Treasury canceled a tender to find an adviser for the sale of the chemical company because the current economic situation is too “volatile and unpredictable,” Parkiet reported, citing the ministry. The state owns 38.7 percent of Ciech, according to the company’s website.

Get Bank SA (GTB PW) jumped 7.7 percent to 1.68 zloty after the bank controlled by Polish billionaire Leszek Czarnecki was initiated with an “outperform” rating at Credit Suisse Group AG.

New World Resources Plc (NWR PW) fell for a second day, tumbling 6.6 percent to 24.2 zloty after the Czech Republic’s largest coking coal producer said the average agreed price of coking coal for delivery in the first quarter of 2012 fell 13 percent from the previous quarter.

PKO Bank Polski SA (PKO PW) climbed the most in almost three weeks on a closing basis, gaining 2.9 percent to 34.27 zloty. Poland’s largest lender expects profit to “stabilize” this year after rising to a record in 2011, Chief Executive Officer Zbigniew Jagiello said in an interview with PAP newswire.

Telekomunikacja Polska SA (TPS PW) retreated for the first time in four days, losing 1.5 percent to 17.63 zloty as the country’s largest phone company known as TPSA was downgraded to “underperform” from “neutral” at Bank of America Corp.

--Editors: Stephen Kirkland, Linda Shen

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net

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


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