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Poland - Factors to Watch on Oct 7

Source: Reuters - Wed 7th Oct 2009

Here are news stories, press reports and events to watch which may affect Poland's financial markets on Wednesday.

PKO BP

The Polish treasury ministry stroke a deal with state-owned bank BGK to sell its rights to PKO BP PKOB.WA shares in an upcoming cash-call by the biggest bank in Poland, Parkiet daily reported on Wednesday. The deal will allow the state to retain control over PKO BP and boost budget revenues at the same time.

GOVERNMENT RESHUFFLE

Polish Prime Minister Donald Tusk is likely to sack three ministers on Wednesday, a government source told Reuters late on Tuesday, in an attempt to defuse a lobbying scandal that has dented support for his ruling party.

Prime Minister Donald Tusk will announce government changesat about 1200 GMT.

T-BONDS

Poland will offer 3-4.5 billion zlotys in its bonds maturing in 2012 on Wednesday at noon.

FX RESERVES

Poland's central bank will release September FX reserves data at 1200GMT.

PGE

Poland's financial regulator KNF may approve Polska Grupa Energetyczna issue prospectus by Friday, daily Parkiet reported.

RATES

Poland's Monetary Policy Council should raise interest rates in second half of 2010 when the economy is expected to rebound and inflation remains high, a candidate for the next council Adam Glapinski told Gazeta Prawna daily.

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