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Polish Stocks: Globe Trade, KGHM, Orlen Shares Move in Warsaw

May 24 (Bloomberg) -- Poland’s WIG20 Index gained 7.31, or 0.3 percent, to 2,824.01 at the 5:30 p.m. close in Warsaw.

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

Globe Trade Centre SA (GTC PW), Poland’s biggest property developer by market value, jumped 0.62 zloty, or 3.5 percent, to 18.2 zloty, rising for the first time in three days. Its 14-day relative strength index, which shows how rapidly prices advanced or dropped in a given period, was at 28.7 yesterday. A reading of 30 or below signals to some investors that shares are set to rise.

KGHM Polska Miedz SA (KGH PW), the copper producer with the biggest European mine output, climbed 2.4 zloty, or 1.3 percent, to 182.1 zloty, the highest close since May 11. Copper rose in London, rebounding from the biggest retreat in almost three weeks, as Goldman Sachs Group Inc. advised investors to buy the metal.

PKN Orlen SA (PKN PW), Poland’s biggest oil company, rose 0.2 zloty, or 0.4 percent, to 51.3 zloty. Oil gained on signs of shrinking crude inventories and as a drop in the dollar heightened oil’s appeal for protecting against inflation.

Separately, Goldman Sachs lifted its price estimate for Orlen 7.5 percent to 57 zloty.

To contact the reporter on this story: Pawel Kozlowski in Warsaw pkozlowski@bloomberg.net or Marek Strzelecki in Warsaw mstrzelecki1@bloomberg.net

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

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