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Ciech, Enea, KGHM, Orlen, PKO: Central European Equity Preview

The following is a list of companies whose shares may have 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 fell 2.8 percent, the Czech PX Index declined 2.5 percent and Hungary’s BUX Index lost 2.2 percent.

Asseco Poland SA (ACP PW): Central Europe’s largest software developer will release first-quarter earnings. Asseco declined 2.5 percent to 54 zloty.

Lubelski Wegiel Bogdanka SA (LWB PW): Poland’s only publicly traded coal producer said its first-quarter net income rose 12 percent to 53 million zloty ($16.2 million) on sales of 294.1 million zloty. That compares with mean estimates of 53.9 million zloty in net income on sales of 293.4 million zloty in a Bloomberg survey of five analysts. Bogdanka declined 2.9 percent to 70 zloty.

Ciech SA (CIE PW): Poland’s largest chemical company received a 90 million-zloty bid for its 45 percent stake in insurer Polskie Towarzystwo Ubezpieczen SA from Germany’s Gothaer Versicherungen, Parkiet reported, without citing anyone. Separately, Ciech said its net loss narrowed to 2.78 million zloty in the first quarter from 13.9 million a year earlier. The shares fell 1.9 percent to 29.95 zloty.

Comarch SA (CMR PW): The Polish software developer said its first-quarter net loss narrowed to 0.12 million zloty from 2.9 million zloty a year earlier, missing the mean estimate of five analysts for a profit of 4.1 million zloty. Comarch dropped 2.3 percent to 93.8 zloty.

Cyfrowy Polsat SA (CPS PW): Poland’s largest satellite television broadcaster said first-quarter profit rose 19 percent to 86.1 million zloty, compared with the 79.5 million-zloty mean estimate of nine analysts surveyed by Bloomberg. Cyfrowy sank 3.7 percent to 14.4 zloty.

Enea SA (ENA PW): Poland’s third-largest power utility said first-quarter profit rose to 218.2 million zloty from 201.3 million zloty a year earlier. That compares with the 203 million-zloty mean estimate of three analysts surveyed by Bloomberg. Enea added 0.1 percent to 17.85 zloty.

KGHM Polska Miedz SA (KGH PW): Shareholders of Poland’s sole copper producer meet to decide on a dividend payout from 2009 profit. KGHM retreated 3.4 percent to 101 zloty.

PGE SA (PGE PW): Poland’s largest electricity producer said its first-quarter net income rose 3 percent to 899.1 million zloty on sales of 5.34 billion zloty. That compares with mean estimates of 873.2 million in net income on sales of 5.63 billion in a Bloomberg survey of five analysts. PGE shares fell 3.5 percent to 21.2 zloty.

PKN Orlen SA (PKN PW): Poland’s largest oil company is in “advanced talks” to buy all or part of a London-listed company developing oil production in North Africa, the newspaper Puls Biznesu reported, citing Wieslaw Prugar, the chief executive officer of Orlen Upstream. Orlen sank 3.1 percent to 37.6 zloty.

PKO Bank Polski SA (PKO PW): Poland’s largest bank said first-quarter net income rose to 720 million zloty from 540.7 million zloty a year earlier. That compares with the 690.9 million-zloty average estimate of 14 analysts surveyed by Bloomberg. PKO shares slid 1.9 percent to 40.01 zloty.

PZU SA (PZU PW): Poland’s largest insurer joins the Warsaw bourse’s benchmark WIG20 Index, replacing Cersanit SA (CST PW), the country’s biggest ceramic tilemaker. PZU fell 0.6 percent to 355 zloty and Cersanit plunged 7.9 percent to 13.27 zloty.

Ruch SA (RCH PW): Poland got one binding bid for its majority stake in the kiosk chain that sells about half the country’s newspapers, the Treasury Ministry said on its website, without naming the bidder. Lurena Investments bid for Ruch, Rzeczpospolita reported. Ruch lost 3.7 percent to 8.58 zloty.

TVN SA (TVN PW): Shareholders of Poland’s only publicly traded television network approved the management’s proposal to pay 0.31 zloty a share dividend from 2009 net income. The shares fell 3 percent to 17.17 zloty.

Zaklady Chemiczne Police SA (PCE PW): The Polish fertilizer maker said its first-quarter net loss narrowed to 2.4 million zloty from 174.5 million zloty a year earlier. Its shares lost 1 percent to 5.8 zloty.

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