June 27, 2014 / 7:05 AM / 3 years ago

Poland - Factors to Watch on June 27

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

GDP GROWTH

The International Monetary Fund raised its forecast for Polish economic growth this year to 3.3 percent, but it warned Poland needed to protect against external risks by tightening spending and undertaking stalled structural reforms.

3M

The US diversified manufacturer 3M Co plans to build a new plant near Wroclaw, western Poland, and expand its present factory at a cost of 198 million zlotys ($64.79 million), Puls Biznesu daily reported.

ALPINE BAU

The insolvent construction firm Alpine Bau, an Austrian arm of Spanish group FCC, is demanding compensation from the Polish state. Alpine claims that it lost 139 million zlotys building a stadium in Warsaw, Puls Biznesu daily reported.

WARSAW BOURSE

Polish deputy treasury minister Pawel Tamborski was elected as Chief Executive Officer of the Warsaw Stock Exchange, Gazeta Wyborcza daily reported.

TAX CHANGES

The Polish parliament will in July discuss a planned change to the tax system that will increase the amount of tax-free money Poles can earn from the present level of 3,091 zlotys ($1,000) annually, Gazeta Wyborcza reported.

COAL

Polish coal miners JSW and Bogdanka expect that coal prices will stabilize this year after last year’s falls, which dented the companies’ profitability, Parkiet daily reported.

PKO

The biggest Polish bank PKO BP will pay out a dividend of 0.75 zlotys per share, or one third of its 2013 net profit, the bank’s shareholders meeting decided on Thursday, Rzeczpospolita daily reported. The decision is consistent with earlier plans.

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 = 3.0560 Polish Zlotys)

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