Tuesday, May 15, 2007

Poland Leads Central Europe Stock Slump on Earnings; PKN, Grupa Lotos Fall

(Bloomberg) -- Polish stocks led declines in central and eastern Europe after companies including PKN Orlen SA and Grupa Lotos SA reported earnings that missed analysts' estimates.

``The results from Polish oil companies were a big disappointment,'' said Tomasz Adamus, who helps manage the equivalent of $3.9 billion at Credit Suisse Asset Management Polska SA in Warsaw. ``After recent gains in the market, the correction was very likely.''


Read more at Bloomberg Stocks News

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