Polish Stocks Advance to One-Month High on Stimulus Hopes
Polish stocks rose, sending the benchmark gauge to a one-month high as speculation the U.S. Federal Reserve will take steps to stimulate the world’s largest economy tempered concern that European debt crisis will worsen.
The WIG20 Index climbed 2 percent to 2,208.24 at 3:40 p.m. in Warsaw, the strongest level since May 7 on a closing basis. The index has rallied 8.3 percent in four days, compared with a 2.9 percent advance in the MSCI Emerging Markets Index.
KGHM Polska Miedz SA, the copper producer with the biggest European mine output, jumped to almost two-month high and PKN Orlen SA, the country’s biggest refiner led gains as copper and oil rebounded in New York.
Fed Bank of Chicago President Charles Evans said he would support a variety of measures to generate faster job growth, underscoring his preference for more stimulus. The Fed is scheduled to meet next week as slowing job growth at home and a deepening crisis in Europe weigh on the outlook.
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