April 26, 2017 / 6:10 AM / 7 months ago

Poland - Factors to Watch Apr 26

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

UNEMPLOYMENT RATE

The statistics office is due to publish March unemployment rate at 0800 GMT.

LOTOS

Lotos, Poland’s second-biggest oil refiner, reported on Wednesday a bigger-than-expected 288 percent rise in the first-quarter net profit to 411 million zloty ($106.53 million) due to higher oil prices, fuel sales and margins.

BZ WBK

Polish lender Bank Zachodni WBK, a unit of Spain’s Banco Santander, reported on Wednesday an almost 19-percent annual fall in its first-quarter net profit to 453 million zloty due to higher costs of guarantee funds booked.

PKN ORLEN

Poland’s biggest oil refiner, state-run PKN Orlen recognised an impairment charge of 517 million zlotys in its unconsolidated first-quarter financial results, related to the share value of unit ORLEN Lietuva, PKN said late on Tuesday.

ORANGE

France’s Orange Polish unit to publish first quarter results after market close. The company is expected to shift into a net loss due to a continued decline in its fixed-line business.

PEKAO

Polish lender Pekao booked 199 million zlotys in obligatory contributions for bank guarantee fund and bank restructuring fund in the first quarter of 2017, the bank said late on Tuesday.

COAL

Poland’s biggest coal miner PGG may miss its 2017 coal output forecast of 32 million tonnes by around 6 million tonnes, which will reduce its revenues by around 1.5 billion zlotys, Dziennik Gazeta Prawna daily said quoting PGG documents.

At the same time, Puls Biznesu daily quoted deputy energy minister as saying that Poland may export coal to Czech Republic and Turkey.

PGNIG

Polish dominant gas company PGNiG and U.S. ERU Trading will sell 218 million cubic metres of gas to Ukraine in 2017, Dziennik Gazeta Prawna daily said quoting PGNiG’s statement.

BANK HANDLOWY

Citigroup Polish unit Bank Handlowy has booked 61 million zlotys in the first quarter in obligatory contributions for the banks restructuring fund, Handlowy said late on Tuesday.

PZU

Polish state-run insurer PZU is directly controlled by Prime Minister Beata Szydlo, Gazeta Wyborcza daily said quoting Szydlo.

****Reuters has not verified stories reported by Polish media and does not vouch for their accuracy.****

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