Polish Stocks: Jastrzebska, KGHM, Pekao Shares Move on Warsaw

Poland’s WIG20 Index advanced for a fourth day, rising 1.6 percent to 2,244.30 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.

Jastrzebska Spolka Weglowa SA (JSW PW), the European Union’s biggest coking coal producer, jumped 3.9 percent to 94 zloty, its fourth day of gains. Deutsche Bank AG upgraded the stock to buy from hold and increased its price estimate 11 percent to 105 zloty, citing prospects for higher coal prices and “strong” production volumes this year.

KGHM Polska Miedz SA (KGH PW), Poland’s sole copper and silver producer, increased 2.3 percent, the most in three weeks, to 137.7 zloty. KGHM expects no output delays and no need for additional investment in its Sierra Gorda project in Chile, Puls Biznesu reported, citing Chief Executive Officer Herbert Wirth.

Bank Pekao SA (PEO PW), the country’s second-largest lender, gained 3.4 percent to 152 zloty, its highest close since April 2, after its stock recommendation was raised to Buy from Neutral at UBS.

David McQuaid in Warsaw at dmcquaid1@bloomberg.net

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