Polish Stocks: Agora, Asseco, PGE, Tauron, Toya Move in Warsaw

Aug. 12 (Bloomberg) -- Poland’s WIG20 Index rose 38.15, or 1.7 percent, to close at 2,331.53, gaining for a second day and trimming this week’s decline to 4.7 percent.

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

Agora SA (AGO PW), Poland’s largest publisher, jumped 1.5 zloty, or 12 percent, to 13.75 zloty. First-half net income was 27.8 million zloty ($9.5 million), beating the 17.1 million-zloty mean estimate of six analysts surveyed by Bloomberg.

Asseco Poland SA (ACP PW) rose for the first time in eight days, increasing 2.32 zloty, or 6.2 percent, to 39.47 zloty after central Europe’s largest software developer proposed buying back as much as 600 million zloty of shares.

PGE SA (PGE PW), Poland’s biggest power producer, climbed 0.25 zloty, or 1.3 percent, to 19.5 zloty, extending yesterday’s 8.5 percent advance. Tauron Polska Energia SA (TPE PW), the second-largest utility, increased 0.6 percent to 5.32 zloty. ING Groep NV raised its recommendation for central European power utilities to “overweight” from “neutral,” saying the industry has strong finances and has become more attractive after recent declines.

Toya SA (TOAA PW) slumped 0.04 zloty, or 1.4 percent, to 2.76 zloty as the Polish manufacturer of power tools started trading in Warsaw. The company sold 25.9 million zloty of shares at 2.8 zloty each in an initial public offering last month, according to a Warsaw bourse e-mailed statement.

To contact the reporter on this story: Pawel Kozlowski in Warsaw pkozlowski@bloomberg.net Monika Rozlal in Warsaw at mrozlal@bloomberg.net

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