Poland’s WIG20 Index lost 16.56, or 0.6 percent, to 2,852.76 at 2:23 p.m. in Warsaw.
The following are among the most active stocks on the Warsaw Stock Exchange today. Stock symbols follow company names.
KGHM Polska Miedz SA (KGH) , the copper producer with the biggest European mine output, lost 2.2 zloty, or 1.2 percent, to 185.8 zloty as the price of the metal declined.
Grupa Lotos SA (LTS) increased for a fourth day, adding 0.35 zloty, or 0.8 percent, to 46.79 zloty. Poland’s second- largest oil refiner said first-quarter profit rose to 635.2 million zloty ($233 million) from 22.9 million zloty a year earlier as the company benefited from climbing crude prices, the strengthening zloty and an increase in capacity.
LPP SA (LPP) gained 20 zloty, or 0.9 percent, to 2,250 zloty, rising for a second day. Poland’s largest publicly traded clothing retailer reported first-quarter net income of 14.1 million zloty, compared with a net loss of 4.78 million zloty a year earlier. That beat the 3.85 million-zloty mean estimate of six analysts surveyed by Bloomberg.
Nova Kreditna Banka Maribor d.d. (KBM PW) climbed 5.7 percent to 33.6 zloty as Slovenia’s second-biggest bank started trading on the Warsaw Stock Exchange. Nova Kreditna last month sold 104.3 million euros ($150 million) of new shares at 8 euros each. The Warsaw bourse yesterday set a reference price for the stock’s debut at 31.78 zloty a share.
PKO Bank Polski SA (PKO PW), Poland’s biggest bank, fell for a third day, retreating 0.79 zloty, or 1.8 percent, to 43.2 zloty. UBS AG cut its price estimate for the stock to 50 zloty from 54 zloty, Societe Generale SA lowered its price projection 3.8 percent to 50 zloty, while ING Groep NV reduced its target to 49.43 zloty from 50.03 zloty.
PZU SA (PZU PW) advanced 3.9 zloty, or 1 percent, to 379.4 zloty, heading for the highest close since November. Poland’s biggest insurer announced a plan to cut 1,212 jobs, or 9.4 percent of its workforce, this year.
Tauron Polska Energia SA (TPE) advanced 0.11 zloty, or 1.8 percent, to 6.33 zloty, its fourth day of gains. Poland’s second-largest power utility said first-quarter net income rose to 382.5 million zloty from 291.8 million zloty a year earlier. That compares with the 343.1 million-zloty mean estimate of seven analysts surveyed by Bloomberg.
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