CEZ, Lotos, NWR, PGE, PZU Shares: Central Europe Equity Preview
February 23, 2012, 5:10 AM ESTBy Piotr Bujnicki
Feb. 23 (Bloomberg) -- The following is a list of companies whose shares may undergo unusual price changes in central European markets. Stock symbols are in parentheses after company names. Share prices are from the last close.
Poland’s WIG20 Index lost 1 percent, the Czech PX Index slipped 0.2 percent and Hungary’s BUX Index retreated 0.7 percent.
CEZ AS (CEZ CP): The Czech Republic’s largest electricity producer had its price estimate cut to 935 koruna from 1,040 koruna at Citigroup Inc. CEZ gained 0.2 percent to 838.7 koruna.
Grupa Lotos SA (LTS PW): Fourth-quarter net income at Poland’s second-biggest oil refiner plummeted to 93.7 million zloty ($29.6 million) from 251.3 million zloty a year earlier. The mean estimate of eight analysts surveyed by Bloomberg was for a 2.69 million-zloty loss. Lotos slipped 1.6 percent to 27.01 zloty.
New World Resources Plc. (NWR CP): Full-year profit at the largest Czech coking-coal producer plunged 44 percent after demand for the commodity declined and one-time gains from last year were not repeated, the Amdsterdam-based company said in a Regulatory News Service statement. NWR dropped 2.7 percent to 150.1 koruna.
PGE SA (PGE PW): Poland is selling 93.5 million shares, or a 5 percent stake, in the country’s biggest power utility to raise about $600 million, according to terms of the sale obtained by Bloomberg. The shares retreated 0.6 percent to 20.28 zloty.
PZU SA (PZU PW): Poland’s biggest insurer will comply with a recommendation by the country’s financial markets regulator to limit its 2011 dividend to 75 percent of net income, Rzeczpospolita reported today, citing Chief Executive Officer Andrzej Klesyk. PZU advanced 0.1 percent to 340 zloty.
--Editors: Ash Kumar, Peter Branton
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
