News Parkiet

Equity markets

Polish stocks fall, led by WIG20 blue-chips

Major Polish stocks fell sharply yesterday as international investors cut their exposure to emerging market equities. WIG20 blue chip index fell as much as 3.9 percent, while broad-market WIG lunged over 1000 points, or 3.3 percent. Bond prices also fell, while their yields rose in response to rising bond yields in the United States. Other regional stock markets also fell, led by Hungary?s BUX, and Czech Republic?s PX50 while the euro gained ground against most national currencies across Central Europe.

Adult beverages

CEDC boosts its stake in Polmos Białystok

Central European Distribution Corporation said it has bought a 61 percent stake in Polmos Białystok, Poland?s second largest vodka producer and other owner of Żubrówka vodka. The company won a hotly contested privatization bid for Polmos offering to pay 328 million dollars for the company.

Equity markets

Debate participants call for faster prosecution

Participants of the debate on stock manipulation and insider trading called for the formation of a special investigative department at the SEC to enforce Polish securities laws yesterday. They say ordinary courts take far too long prosecuting stock market-related crimes.

Insurance

Nationwide TUnŻ reports modest premium growth

Nationwide TUnŻ, Polish unit of Nationwide Global that was recently taken over by Aegon, reported a negligible 1.5 percent increase in premiums collected in the first six months of this year. Nationwide?s premium intake in the six months to July totaled 840 million zloty.

Pharmaceuticals

Farmacol may pay its first-ever dividend

Poland?s second largest drug distributor, Silesia-based Farmacol, said it may pay its first ever dividend since it went public in late 1990?s. The company initially planned to spend as much as 100 million zloty to buy out smaller competitors, but it found no suitable acquisition targets.

Footwear

LZPS shareholder seeks early dividend

An unnamed shareholder of LZPS Protektor, a publicly traded army boots manufacturer, went to court demanding early payment of this year?s dividend, delayed after the postponement of Protektor?s key army contract. LZPS initially said it would pay its 3 zloty a share dividend in late August, but the payment was postponed until December 30 when government officials canceled three-year contract with the Military Procurement Agency.

Information technology

Talex to report stronger earnings

Hardware provider Talex SA said its third-quarter earnings will be much higher than last year?s 0.27 million zloty profit thanks to a key contract with ING Bank Śląski. Talex was awarded a 21-million zloty hardware contract with ING BSK late last year, but most of the revenues will be booked in the second half of 2005, company officials said.