August 12, 2015 / 6:28 AM / 2 years ago

Poland - Factors to Watch Aug 12

Following are news stories, press reports and events to watch that may affect Poland's financial markets on Wednesday. ALL TIMES GMT (Poland: GMT + 2 hours):

ENERGA

Energa, Poland's No.4 utility, posted a lower-than-expected second-quarter net profit of 178 million zlotys ($47 million) on lower revenues on power generation from renewable sources and costs of electricity purchases.

ENEA

Enea, Poland's No.3 power producer, is looking out for potential takeovers to secure the cheapest coal supplies, Enea's chief executive Krzysztof Zamasz told Rzeczpospolita daily.

HEATWAVE

Poland's grid operator PSE announced power consumption limits for the biggest power users until 1500 GMT on Wednesday, as the country faces a continued heatwave that stretches its outdated power plants' capacities.

Power supply limits imposed on Monday by the Polish grid operator may have affected up to 8,000 companies, daily Puls Biznesu reported.

DATA

The Polish statistics office will publish its foreign trade data for the January-June period at 1200 GMT.

JAGUAR

Luxury carmaker Jaguar Land Rover has signed a letter of intent to build a new car plant in Slovakia, a further expansion away from its British manufacturing base as it seeks to boost sales worldwide.

In its unsuccessful bid to attract the plant, Poland offered the investor a grant of 350 million zlotys and numerous tax breaks, daily Puls Biznesu reported, citing unnamed sources.

BANKS

Poland's banks could challenge a plan to make them foot the bill for fixing the country's Swiss franc mortgage problem in the country's constitutional court, two industry sources said on Tuesday.

POLLS

Poland's main opposition party Law and Justice (PiS) leads in the latest Millward Brown parliamentary election poll with 35-percent support, ahead of the ruling Civic Platform (PO), at 26 percent.

POLITICS

Marek Sawicki, one of the leaders of Poland's junior coalition partner PSL, told Gazeta Wyborcza daily that a lot would have to change in the major opposition party Law and Justice if PSL were to form a coalition with it after the election.

PIPELINE

The Yamal-Europe gas pipeline, which delivers Russian gas mainly to Germany and Poland, was suspended on Tuesday evening, Interfax news agency reported, citing German operator Gascade.

PKP ENERGETYKA

Polish antimonopoly watchdog's decision on whether to approve the sale of PKP Energetyka to global private equity fund CVC may not be issued until autumn, daily Puls Biznesu reported.

****Reuters has not verified these stories and does not vouch for their accuracy.****

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