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Polish Stocks: ABM Solid, Asseco, Azoty, Getin, Orlen Are Active

June 29 (Bloomberg) -- Poland’s WIG20 Index advanced 1.7 percent to 2,275.30 at the close in Warsaw, paring its decline in the second quarter to 0.5 percent.

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

ABM Solid SA (ABM PW) slumped 39 percent to a record low of 0.82 zloty after the Polish builder filed for bankruptcy aiming at arrangement with creditors. The company said late yesterday it asked a Tarnow, southern Poland-based court for creditors protection because of its “difficult liquidity position.”

Asseco Poland SA (ACP PW) declined 1.8 percent to 48.8 zloty, the lowest close in more than three weeks. Central Europe’s largest software developer lost a bid for a contract from PZU SA, Poland’s biggest insurer. PZU picked Guidewire Software Inc. as a provider of new software, Przemyslaw Henschke, PZU’s head of technology department, told reporters in Warsaw today.

Azoty Tarnow (ATT PW) gained 5.1 percent to 38 zloty, the strongest rise this month. OAO Acron of Russia may increase its price to take over Poland’s biggest chemical producer, Parkiet reported, citing Russian billionaire Viatcheslav Kantor, who controls the company.

Getin Noble Bank SA (GNB PW) surged 7.2 percent to 1.79 zloty, the highest level in seven weeks. The lender controlled by Polish billionaire Leszek Czarnecki plans to sell a portfolio of non-performing loans worth 426 million zloty ($125.3 million), Parkiet reported, without saying where it got the information.

PKN Orlen SA (PKN PW) rose 2.5 percent to 37.41 zloty, the highest in more than 10 weeks. Poland’s biggest oil refiner advanced for a second day after European Union leaders agreed to relax conditions on emergency loans for Spanish banks, triggering Europe’s biggest stock rally in seven months. Oil rebounded from the lowest level in nine months in New York after the EU summit decisions were announced.

To contact the reporters on this story: Piotr Skolimowski in Warsaw at pskolimowski@bloomberg.net

David McQuaid in Warsaw at dmcquaid1@bloomberg.net

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

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