May 12, 2017 / 6:08 AM / in 7 months

Poland - Factors to Watch May 12

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


Polish central bank to release M3 money supply data for April at 1200 GMT.


Poland’s biggest power group PGE reported an 11 percent rise in first-quarter net profit on Thursday, which it attributed to lower costs. State-run PGE said net profit totalled 964 million zlotys.

PGE also said it would suspend dividend payouts for 2016, 2017 and 2018 due to its ambitious development programme.


Poland’s KGHM, one of the world’s biggest copper producers, released a strategy update on Thursday for 2017-2021, with an outlook to 2040. KGHM said it targets EBITDA or earnings before interests, taxes, depreciation and amortization of 7 billion zlotys ($1.8 billion) in 2021 as well as an EBITDA margin of over 20 percent in 2017-2021.


Poland’s biggest power producer, which said on Thursday it agreed to buy EDF’s Polish power and heating assets, is ready to pay 1 billion euro for the French utility local business, Puls Biznesu daily said quoting unnamed source.


Eastern Europe’s largest shoe retailer CCC plans to issue convertible debt worth around 100 million euros, the company said on Thursday evening.


State-run utility Tauron expects its coal mining business to swing into a profit this year, Parkiet daily said quoting the company’s representatives.


The head of Citigroup’s Polish brokerage unit DM Citi Handlowy, Witold Stepien, plans to resign at the end of May after 25 years of working for the unit, he told Parkiet daily.

****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 (Reporting by Warsaw Bureau)

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