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Polish Stocks: Azoty Tarnow, Jastrzebska Shares Move in Warsaw

May 31 (Bloomberg) -- Poland’s WIG20 Index added 1.2 percent to 2,096.35, at the close in Warsaw. The gauge declined 6.4 percent in May, its fourth straight monthly fall.

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

Azoty Tarnow (ATT PW), Poland’s largest chemicals maker, jumped 5.3 percent to 37.9 zloty, to an all-time high after OAO Acron of Russia said it’s “open to dialogue” with Azoty shareholders on its bid to buy a 66 percent stake in the company. Acron plans to hold meetings with Azoty shareholders next week and after that it will “make a decision” on whether to increase the price.

Jastrzebska Spolka Weglowa SA (JSW PW), the European Union’s largest coking coal producer, declined 3 percent to 90 zloty, biggest drop in more than a month, after its shareholders approved the management’s dividend proposal. Poland pushed through higher dividend payouts from state-controlled power utility PGE SA and insurer PZU SA at shareholders’ meetings yesterday, raising extra cash to help cut the budget deficit.

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net or Marek Strzelecki in Warsaw at mstrzelecki1@bloomberg.net

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

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