August 25, 2017 / 6:06 AM / 4 months ago

Poland - Factors to Watch Aug 25

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

EUROCASH

Polish retail and wholesale group Eurocash has been used in a Value Added Tax (VAT) fraud and may be obliged to refund the tax to the state, which will reduce the group’s 2017 profit by 114 million zlotys ($31.57 million), the firm said on Thursday.

COAL INDUSTRY

Polish coal mining firms will likely spend around 280 million zlotys this year on various benefits for miners as rising coal prices have boosted their results, Rzeczpospolita daily said citing its own calculations.

WARSAW STOCK EXCHANGE

Polish blue chip index WIG20 rose by 2.7 percent on Thursday and reached a level last seen in mid 2015. Brokers expect further growth driven by banks and energy companies, whose value has fallen in the past years, Parkiet daily said.

INVESTMENTS

Last year Poland’s share in the Central and Eastern Europe’s private equity and venture capital investors’ investments fell by 6 percentage points to 45 percent, Puls Biznesu daily said quoting InvestEurope report.

BORGERS

German car parts producer Borgers will invest 220 million zlotys ($60.91 million) in a factory in western Poland, Puls Biznesu daily said.

WIND FARMS

The court has started an arrangement procedure in the case of Megawind Polska, owned by Austria’s RP Global, most likely the first one to collapse as a result of the government’s regulations aimed at curbing the wind farm business, Puls Biznesu daily said. ($1 = 3.6116 zlotys)

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

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 (Reporting by Warsaw Bureau)

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