STOCKS NEWS EMERGING EUROPE-KGHM sags on copper price drop

                                
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 1400 GMT 4Aug2008 KGHM sags on copper price drop
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 Polish copper miner KGHM <KGHM.WA> sheds 7 percent after
copper prices hit a 4-month low, raising concerns about the
company's future earnings.
                                
 "People are worried that copper prices may fall further and
the upward trend is close to an end," said Piotr Dudzinski, head
of institutional trading at BRE brokerage in Warsaw.
                                
 KGHM, the copper miner with the biggest output in Europe,
lost more than 22 percent since the start of this year and is
trading at levels last seen in March 2006.
                                
 rm://adrian.krajewski.reuters.com@reuters.net
                                
 
                                
 1033 GMT 4Aug2008 PKO BP drops on Q2 earnings worries
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 Polish lender PKO BP <PKOB.WA> falls 3.1 percent in midday
trading as investors moved to pocket the stocks recent strong
gains ahead of the second-quarter results on Friday.
                                
 "PKO has outpeformed other banks and now it's catching up,"
said Grzegorz Skowronski, trader at UnCredit in Warsaw. "Most
banks have so far reported in-line quarterly results and the
market is concerned PKO BP may not beat the consensus either."
                                
 PKO BP is up 18 percent over the last month after it hit the
highest level since January 2 last week. Poland's largest bank
by market value is expected to have earned 901 million zlotys in
the second-quarter, according to a Reuters poll of analysts.
                                
 rm://piotr.skolimowski.reuters.com@reuters.net
                                
 
                                
 0813 GMT 4Aug2008 Bucharest pulls ahead as blue chips shine
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 Bucharest's BETI index <.BETI> outperforms the rest of the
market, gaining 2.4 percent in early trade, as investors take
advantage of the recent losses to snap up some of Romania's
largest listed companies.
                                
 "It's too early to say there is interest from foreign
investors, but we are seeing some buying after we lost some
ground in the last few sessions," said a Bucharest-based trader.
"But trade remains low, so any movement is exaggerated."
                                
 Oil groups Rompetrol <ROMP.BX> and Petrom <SNPP.BX> are up
5.6 percent and 5.5 percent, respectively. Power group
Transelectrica <TSEL.BX> gains 4.5 percent.
                                
 rm://chris.borowski.reuters.com@reuters.net