October 24, 2012 / 5:36 AM / 5 years ago

Poland - Factors to Watch on Oct 24

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


The Polish unit of France Telecom confirmed on Wednesday it closed the third quarter with consolidated net profit down by almost a fifth year-on-year to 307 million zlotys ($96.5 million).


Poland’s gas network operator Gaz-System is considering bulding a gas link with Germany but it is too early to give any details, the company’s chief executive Jan Chadam told Rzeczpospolita daily in an interview.


Shareholders at Eastern Europe’s top software maker voted on Tuesday to add two new members to ist supervisory board, as pension funds wanted more control over the company.


Private equity fund Advent International secured almost 59 percent in the Polish retailer in its 272-milion zloty takeover bid which runs out on Monday and was sweetened three times already to fend off rival fund Mid Europa Partners, EKO and Advent said in statements.


Rally on Polish bonds should persist on a back of rate cuts expectations and moderate economic growth, head of fixed income department at Fidelity Worldwide Investments, Kevin Loo, told Daily Gazeta Prawna in an interview.


Warsaw dropped plans to implement a new spending rule for local governments according to which an overall debt of local governments couldn’t breach 10.5 billion zlotys anually, the finance ministry’s chief economist, Ludwik Kotecki, told Dziennik Gazeta Prawna.


Polish gas monopoly PGNiG cut its oil and gas output targets for this and next year over delays at its Norway operations, the state-controlled group said.


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 = 3.1398 Polish zlotys) ($1 = 3.1831 Polish zlotys)

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