Polish Stocks: Agora, Famur, Globe Trade, KGHM, Polimex, TVN
Poland’s WIG20 Index fell 27.23, or 1.2 percent, to 2,288.44 at the 5:30 p.m. close in Warsaw, declining for a second day.
The following are among the most active stocks on the Warsaw Stock Exchange today. Stock symbols follow company names.
Agora SA (AGO) fell 1.3 percent to 15 zloty, the lowest close this week. Poland’s largest publisher said nine-month net income fell to 33.3 million zloty ($10 million) from 53.9 million zloty a year earlier. That compares with the 34.9 million-zloty mean estimate of eight analysts surveyed by Bloomberg.
Famur SA (FMF) jumped 4.7 percent to 2.67 zloty, rebounding from the steepest daily drop in three months. The maker of mining equipment was rated “buy” in new coverage at ING Groep NV, which set its price estimate for the stock at 3.12 zloty.
Globe Trade Centre SA (GTC) , Poland’s biggest property developer by market value, lost 5.5 percent to 9.55 zloty, the lowest level in almost two months. The third-quarter net loss was 131.7 million euros ($179 million), compared with a 7.97 million-euro profit a year earlier. The loss was bigger than the median estimate of 13.9 million euros in a Bloomberg survey of seven analysts.
KGHM Polska Miedz SA (KGH) , the copper producer with the biggest European mine output, fell 2 percent to 157 zloty. Copper fell to the lowest price in more than two weeks as the European Union cut its growth forecast for next year by more than half amid the struggle to contain the debt crisis.
Polimex-Mostostal SA (PXM) slumped 9.4 percent to 1.35 zloty, the lowest close since Sept. 30. Poland’s second-largest builder said nine-month net income fell to 40.8 million zloty from 60 million zloty a year earlier.
TVN SA (TVN) retreated for a third day, losing 9.3 percent to 10.70 zloty. Poland’s largest television network had a net loss of 329.8 million zloty in the first nine months of this year, compared with a 27 million-zloty profit a year earlier.
TVN cut its forecast for earnings before interest, taxes, depreciation and amortization to a range of 660 million zloty to 670 million zloty from 680 million zloty. The company expects sales to rise by about 5 percent this year, down from an earlier 7 percent growth estimate.
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