Polish Stocks: CEDC, Millennium, Bank Pekao, Polimex Are Active
The following are among the most active stocks on the Warsaw Stock Exchange today. Stock symbols follow company names.
Central European Distribution Corp. (CDC) rose for the first time in three days, increasing 1.33 zloty, or 6.3 percent, to 22.33 zloty. The vodka producer, which owns Zubrowka and Parliament brands, was upgraded to “buy” from “hold” at ING Groep NV.
Bank Millennium SA (MIL PW) jumped 0.17 zloty, or 3.8 percent, to 4.7 zloty, extending yesterday’s 7.9 percent gain. Banco Comercial Portugues SA, which is selling its majority stake in the Polish bank, said late yesterday it’s received three written expressions of interest and other verbal contacts. It didn’t identify the potential bidders.
Bank Pekao SA (PEO) jumped 6 zloty, or 4.6 percent, to 138 zloty, the highest close in more than a week, as Societe Generale SA rated Poland’s second-largest bank “buy” in new coverage and set its share-price estimate at 167 zloty.
Polimex-Mostostal SA (PXM) , Poland’s second-largest construction company, gained for a second day, soaring 0.06 zloty, or 4.5 percent, to 1.4 zloty. Polimex, Alstom SA and Shanghai Electric Co. may bid to build a 6 billion-zloty ($1.9 billion) coal-fired power unit in Ostroleka for Energa SA, a Polish power utility, Rp.pl reported.
Separately, Polimex’s 14-day relative strength index, which shows how rapidly prices advanced or dropped during a specified period, closed at 20 yesterday. A reading of 30 or below signals to some investors that shares are set to rise.
To contact the reporter on this story: Pawel Kozlowski in Warsaw at firstname.lastname@example.org
David McQuaid in Warsaw at email@example.com
To contact the editor responsible for this story: Gavin Serkin at firstname.lastname@example.org