Bloomberg News

KGHM Polska Miedz Rises to Three-Month High as Copper Climbs

February 28, 2012

KGHM Polska Miedz SA (KGH), the copper producer with the biggest European mine output, jumped to a three-month high as the price of the metal gained.

The stock climbed as much as 1.7 percent to 145.4 zloty, the highest since Nov. 18, and traded 1.5 percent higher at 145.1 zloty at 11:55 a.m. in Warsaw. The shares have rallied 31 percent this year, the biggest gain in the benchmark WIG20 Index, which increased 0.3 percent today.

Copper for three-month delivery advanced as much as 0.7 percent in London to $8,595.75 a metric ton, the highest level since Feb. 10. A gauge of consumer sentiment in Germany will reach a 12-month high in March, market research company GfK SE said. A report today may show U.S. consumer confidence rose this month, according to economists in a Bloomberg survey.

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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