November 17, 2015 / 7:15 AM / 3 years ago

Poland - Factors to Watch Nov 17

Following are news stories, press reports and events to watch that may affect Poland's financial markets on Tuesday. ALL TIMES GMT (Poland: GMT + 1 hour):


Poland will on Tuesday publish debt supply data for the Thursday switch tender.


Polish coking coal miner JSW said on Monday it had extended the deadline for approving key details of its debt restructuring talks with bondholders to Nov. 24, from Nov. 16.


Enea, Poland's third-biggest power producer, posted a bigger-than-expected, twofold rise in its third-quarter net profit to 420 million zlotys ($105.52 million), boosted by compensation for cancelled long-term power supply contracts.


Poland's newly sworn-in government will amend next year's budget plans in December, increasing the deficit by 1.0-1.5 billion zlotys, Finance Minister Pawel Szalamacha said on Monday.


Poland's biggest refiner PKN Orlen agreed to sell three rail transport units for a total of 336 million zlotys ($85 million).

PKN will recommend paying out a dividend from its 2015 profit, and judging by the company's financial results so far, it should be record high, PKN's chief executive told Rzeczpospolita daily.


Energa, Poland's No.4 utility, posted a slightly lower than expected third-quarter net profit of 166 million zlotys ($42 million), citing falling electricity prices and output cuts at hydro power plants.


Environmental regulations within the European Union may force Polish energy producers to switch off old power units, reducing Poland's overall capacity by 7,000 megawatts by 2020, and 12,000 megawatts by 2030, daily Rzeczpospolita reported.


Almost one third of Poland's poorest families may lose part of their social benefits if they decide to claim 500 zlotys per child, a flagship election promise made by governing Law and Justice (PiS) party, Gazeta Wyborcza daily said, quoting calculations prepared by CENEA think-tank.


Poland's biggest gas-powered heating plant currently being built by Tauron and PGNiG at a cost of 1.6 billion zlotys may end up losing money, as gas prices are high, while energy prices are low, Puls Biznesu daily said.


The U.S. white goods maker Whirlpool will within four years invest 235 million euros ($250.63 million) in its Polish factories, formerly owned by its Italian peer Indesit, Puls Biznesu said.


It does not make sense to adopt the euro now, as sticking to the local currency gives Poland more flexibility in responding to economic changes, Minister in the Prime Minister's Chancellery Henryk Kowalczyk was quoted as saying by Puls Biznesu.

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