News Parkiet

Equity markets

Warsaw bourse needs bigger partner,

OMX executive says

Warsaw Stock Exchange needs a bigger partner to remain viable, general director of Nordic OMX told PARKIET in an interview earlier this week. ?We would be happy to see if we fit that role?, Magnus Boecker said, noting that OMX doesn?t have to buy the bourse outright. ?Sometimes it is ownership, sometimes it is cooperation or co-ownership? he said in response to a question about future relationship between OMX and the Polish stock exchange.

Derivatives

Most futures traders lose money, survey shows

Few futures traders ever make any money over time,

losing their zlotys to the benefit of institutional investors with much deeper pockets and more patience and staying power. Recent survey based on data provided by KDPW clearing house shows that just 30.1 percent of the

22 144 investors who traded futures and options contracts reported net gains on that activity even excluding brokers? commissions. Some of the bigger investors did much better and accounted for most of the gains from futures trading.

Media

TVN sees up to 13 pct. ad revenue growth

One of the country?s two main private TV broadcasters, TVN SA, said on Friday it plans to launch a new specialty channel called TVN Gra that will broadcast round-the-clock TV contests and entertainment programming. The company said it expects full-ear sales to increase by between

9 and 13 percent. Its second-quarter sales were lower by up to 15 million zloty however, because of ad cancellations during the national mourning following the death of pope John Paul II, CFO Karen Burgess said.

Power industry

PEP plunges 10 pct. on first day of trading

Shares of energy outsourcing group Polish Energy Partners fell 7.7 percent to close at 7.2 zloty from their IPO price of 7.8 zloty on their first day of trading on yesterday. PEP shareholders, Enterprise Investors and Polenergy Investments private equity funds sold less than half of the 10.65 million shares offered last month. Retail investors, who bought half the shares sold by EI and Polenergy

apparently accounted for much of Friday?s selling.

Privatization funds

7 NFI to pay first ever dividend

7 NFI privatization fund has agreed to pay out 40 percent of last year?s earnings as dividends to shareholders. Based on 7 NFI?s proposed dividend of 0.73 zloty a share, the fund has a dividend yield of nearly 19 percent.

Few privatization funds have ever paid dividends outright. Most preferred to share their wealth with investors by

buying back and canceling their own stock.