Bloomberg News

KGHM Polska Miedz Gains Most in One Week as Copper Rebounds

March 08, 2012

KGHM Polska Miedz SA (KGH), the copper miner that has Europe’s biggest output, jumped the most in more than a week as the metal advanced.

The shares rose as much as 3 percent, the biggest intraday gain since Feb. 29, before trading 2.7 percent higher at 147.9 zloty as of 12:10 p.m. in Warsaw. KGHM has advanced 34 percent this year, the best-performing stock in the WIG20 Index (WIG20), which has climbed 6.8 percent.

Copper gained 1.5 percent in London as Germany said industrial production rose more than economists anticipated in January. Data yesterday showed U.S. companies increased hiring, more investors signed on to a Greek debt swap and stockpiles of the metal used in pipes and wires declined.

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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