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1330 GMT 18July2008 - NWR, KGHM drop on commodity prices
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Shares in coal miner NWR <NWRSsp.PR> and copper group KGHM <KGHM.WA> see the
biggest losses in later afternoon trade, falling 6.3 and 4.3 percent,
respectively, because of wider fears that commodity prices would fall in the
near term.
"Investors foresee that commodities, which provided some hedging lately, are
in for a correction in prices," says Lukasz Wydra of UniCredit in Warsaw.
Investors also worry the region's commodity producers would be especially
vulnerable as they already feel the pain of strong local currencies.
"The whole sector is going down right now and the strong crown is also
playing a major factor (for NWR)," says Jan Cepak, trader at Komercni Banka in
Prague.
Reuters Messaging: rm://adrian.krajewski.reuters.com@reuters.net
0905 GMT 18July2008 - UBS cuts PKO price target to 54 zlotys
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UBS cuts its price target for Poland's second-largest bank PKO BP <PKOB.WA>
to 54 zlotys from 62 zlotys.
"New target price is PLN 54 but even despite the cut PKO BP remains the best
pick in Polish financial sector," the brokerage said.
"Second-quarter numbers should be strong on good loan volume growth ... and
lower trading loss compared to the first quarter."
PKO shares edge up 0.8 percent to 85.05 zlotys in late morning trade.
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Reuters Messaging: rm://adrian.krajewski.reuters.com@reuters.net
0855 GMT 18July2008 - Asseco Poland gains on CEO comments
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Largest Polish software-maker Asseco Poland <SOBK.WA> rises 2.2 percent to
the highest in seven sessions after its chief executive was quoted by a local
news agency as saying second-quarter earnings would be higher than in the
previous quarter.
"The news had a positive trading impact," ING analyst Milena Olszewska wrote
in a note. "We expect the sentiment towards the stock to start improving."
For more news on Asseco double click []
Reuters Messaging: rm://piotr.skolimowski.reuters.com@reuters.net
0800 GMT 18July2008 - BZ WBK falls on UniCredit downgrade
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Polish mid-sized lender BZ WBK <BZWB.WA> falls more than 2.4 percent to 140
zlotys and is one of the biggest losers in early trade after UniCredit
downgrades the stock to 'hold' and cuts its price target to 150 zlotys from 217
zlotys.
The stock was also hurt by a change to a negative outlook by Fitch.
Reuters Messaging: rm://adrian.krajewski.reuters.com@reuters.net
