February 7, 2017 / 7:05 AM / 8 months ago

Poland - Factors to Watch Feb 7

Following are news stories, press reports and events to watch that may affect Poland’s financial markets on Tuesday. ALL TIMES GMT (Poland: GMT + 1 hour):

MERKEL VISITS WARSAW

German Chancellor Angela Merkel visits Warsaw on Tuesday amid signs its conservative rulers are keen to repair the co-operation essential for European Union (EU) attempts to handle economic and political problems ahead.

A joint press conference of Merkel and Polish Prime Minister Beata Szydlo is planned to start at about 1400 GMT.

C.BANK PROFIT

Puls Biznesu daily reported citing unnamed sources that the central bank’s profit for 2016 reached about 9 billion zlotys ($2.24 billion). According to the law, the bank transfers 95 percent of its profit to the state budget.

Such transfer would lower borrowing needs in 2017, but would be neutral for the general government deficit.

FX RESERVES

The central bank is due to publish January foreign exchange reserves data at 1300 GMT.

INTERNATIONAL AUTOMOTIVE COMPONENTS

Puls Biznesu reported citing unnamed sources that auto parts producer International Automotive Components is to announce on Tuesday a plan to build a manufacturing plant in southern Poland. The plant would employ about 500 people.

KOPEX

Mining equipment producer Kopex has put up for sale a project to build a coal mine near the village of Przeciszow in southern Poland, Puls Biznesu reported, adding that it was unable to name a company that would be interesting in buying the project.

LOCAL GOVERNMENTS’ SURPLUS

Polish local governments have posted a record high combined surplus of 7.7 billion zlotys ($1.92 billion)in 2016, mainly as a result of lower investments, Rzeczpospolita daily reported citing unnamed sources.

****Reuters has not verified stories reported by Polish media and does not vouch for their accuracy.****

For other related news, double click on: Polish equities E.Europe equities Polish money Polish debt Eastern Europe All emerging markets Hot stocks Stock markets Market debt news Forex news For real-time index quotes, double click on: Warsaw WIG20 Budapest BUX Prague PX ($1 = 4.0107 zlotys) (Reporting by Warsaw Bureau)

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