Bloomberg News

Polish Stocks: Kernel Holding, PKO Bank Polski Move in Warsaw

May 17, 2012

Poland’s WIG20 Index (WIG20) fell 3 percent to 2,057.12 at the close in Warsaw, its biggest decline in more than six months.

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

Kernel Holding SA (KER) , Ukraine’s biggest sunflower-oil producer, slumped 7.8 percent to 55.35 zloty, the biggest drop since November 2009. The company cut its profit outlook for the 2012 fiscal year to $215 million from $255 million on May 15.

“The stock can now underperform the market as the execution of the lowered forecast is still a challenge,” Jakub Szkopek, a Warsaw-based analyst at DI BRE Bank SA, said by phone today.

PKO Bank Polski SA (PKO) , the country’s largest lender, slumped 3.3 percent to 30.67 zloty, the lowest level in more than four months, as the European Central Bank paused lending to some Greek banks and speculation mounted that Spanish banks may have their credit ratings cut at Moody’s Investors Service.

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net or Marek Strzelecki in Warsaw at mstrzelecki1@bloomberg.net

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


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