Bloomberg News

KGHM Jumps as Copper Gains on Greek Aid Talks, U.S. Outlook

February 17, 2012

Feb. 17 (Bloomberg) -- KGHM Polska Miedz SA, the copper producer with the biggest European mine output, gained as the metal advanced for the first time in six days amid speculation Greece will get more aid and that demand may improve in the U.S.

KGHM rose 2.3 percent to 136.3 zloty at 2:42 p.m. and is up 23 percent so far this year, the second-best performing stock in WIG20 Index. The state-controlled company has the third-biggest weighting in Polish benchmark index.

Emerging-market stocks gained after people familiar with Greek aid talks said yesterday European governments are considering cutting interest rates on emergency loans to Greece and using contributions from the European Central Bank to plug a new financing gap in the country’s second bailout.

--Editors: Wojciech Moskwa, 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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