GTC, Mol, PKO, PZU, Transgaz: Central European Equity Preview

The following is a list of companies whose shares may experience 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 declined 0.4 percent, the Czech PX Index retreated 0.2 percent and Hungary’s BUX Index slid 0.2 percent.

Asseco Poland SA (ACP PW): Eastern Europe’s largest software maker said May 11 its first-quarter profit rose to 104.5 million zloty ($31.82 million) from 97.2 million zloty a year earlier. That beat the 90.7 million-zloty mean estimate of seven analysts surveyed by Bloomberg. Asseco gained 0.2 percent to 47.2 zloty.

Enea SA (ENA PW): First-quarter net income at Poland’s third-largest utility rose to 249.1 million zloty ($75.3 million) from 246.4 million zloty a year earlier. The result exceeded the 233.5 million-zloty mean estimate of six analysts surveyed by Bloomberg. Enea climbed 0.2 percent to 16.4 zloty.

Globe Trade Centre SA (GTC PW): Net income in the first quarter at Poland’s second-biggest property developer by market value fell to 6.32 million euros ($8.15 million) from 10.3 million euros a year earlier. That compares with the mean estimate of a 100,000-euro loss by four analysts in a Bloomberg survey. GTC fell 1.6 percent to 6.66 zloty.

Mol Nyrt. (MOL HB): Hungary’s largest refiner is considering joining BP Plc’s South East Europe Pipeline project after quitting the rival Nabucco project, Nepszabadsag reported, citing BP spokesperson Toby Odone. Mol slipped 0.9 percent to 16,500 forint.

NG2 SA (CCC PW): Poland’s biggest publicly traded shoe retailer said May 11 its management board today decided to recommend shareholders approve a 2011 dividend of 61.4 million zloty, or 1.6 zloty a share. The shares declined 2 percent to 57 zloty.

PKO Bank Polski SA (PKO PW): Poland’s top lender reported a net income of 1 billion zloty ($302 million) in the first quarter from 871 million zloty a year earlier, it said today in a regulatory statement. That is in line with the 1.02 billion-zloty mean estimate of 13 analysts surveyed by Bloomberg. The shares lost 0.5 percent to 32.3 zloty.

Polskie Gornictwo Naftowe i Gazownictwo SA (PGN PW): Poland’s biggest gas company also known as PGNiG will ask shareholders to approve merging its exploration operations in a separate unit whose shares may be sold via initial public offerings, the company said in a regulatory statement May 11.

PGNiG is resuming preparations for exploratory drilling in western Libya at its Murzuq field, the company said in an e-mailed statement May 11. The stock gained 1 percent to 4.04 zloty.

PZU SA (PZU PW): Poland’s largest insurer is planning to expand in Latvia and Estonia, Chief Executive Officer Andrzej Klesyk said, according to Puls Biznesu. PZU is also interested in buying insurers in central and eastern Europe, including Croatia and Belarus, Puls said citing Klesyk. PZU advanced 0.4 percent to 319.7 zloty.

Transelectrica SA (TEL RO): Romanian power-grid operator SA said its profit fell to 43.6 million lei in the first quarter from 160.9 million lei in the same period last year, according to a statement sent to the Bucharest Stock Exchange today. The shares tumbled 7.3 percent to 13.8 lei.

Transgaz SA (TGN RO): Romania’s natural-gas grid operator said profit slumped to 173.5 million lei ($50.4 million) in the first quarter this year from 194.9 million lei in the same period of 2011, according to a statement sent to the Bucharest Bourse today. The stock fell 3.9 percent to 208 lei.

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