WARSAW, Feb 11 (Reuters) - Here are news stories, press
reports and events to watch which may affect Central/Eastern
Europe's financial markets on Wednesday.
LOTOS
Poland's second-largest refiner Lotos <LTOS.WA> plans cost
savings of 390 million zlotys this year and will put 2.1 billion
zlotys in investments on hold. []
PEKAO
Poland's largest bank Pekao <BAPE.WA>, a unit of UniCredit
<CRDI.MI>, will scrap its financial targets for 2008-2010
because of the sector's slowdown and the decision will be
announced with its second-quarter results, Parkiet reports
without giving sources.
KREDYT BANK
Polish Kredyt Bank <BKRE.WA> plans to cut up to 500 jobs
because of the worsening economic conditions, it says.
KETY
Polish aluminium products maker Kety <KETY.WA> posted a
91-percent drop in fourth-quarter net profit due to rising costs
of paying off its foreign-denominated loans. []
ROMANIAN BANKS
Romanian banks' combined net profit rose 67 percent in 2008
to 1.27 billion euros, daily Ziarul Financiar writes, citing on
data released by the central bank.
PETROM
Romanian top oil and gas firm Petrom <SNPP.BX>, owned by
Austria's OMV <OMVV.VI>, is in talks with European Investment
Bank and the European Bank for Reconstruction and Development
BOUT potential loans to support its investments, says Ziarul
Financiar.
The firm plans to invest 1.5 billion euros a year until
2010.
ERSTE
Erste Group Bank <ERST.VI> became the first major emerging
European lender to own up to the region's looming crisis on
Tuesday, writing down expensive boomtime acquisitions and
raising bad debt provisions. []
POL-AQUA
A consortium led by Polish builder Pol-Aqua <PQAA.WA> has
placed the best bid to construct a bridge in Warsaw for 978
million zlotys ($283 million), the company said. []
POLISH CAR PRODUCTION
The production of cars and trucks in Poland dropped 34
percent to 57,900 in January as companies including General
Motors-owned Opel reduced output by 70 percent in the face of
slumping demand, daGazeta Wyborcza reports, citing data from
research company Samar.
PZU
Poland's largest insurer PZU will cut 1,500 jobs by the end
of this year out of its 16,000 workforce in what would be the
biggest reduction in the company's history, daily Parkiet
reports citing sources.
FX OPTIONS
Poland will look at scrapping some currency options that
have tripped up exporters betting the wrong way on the zloty,
exposing them to up to 15 billion zlotys ($4.4 billion) in
potential losses, officials said on Tuesday. []
EUROPEAN MARKETS
European shares looked set to open lower on Wednesday after
a steep slide on Wall Street overnight on fears a $2 trillion
U.S. bank rescue plan would not work and with Asian stocks down
after Chinese exports and imports fell more than expected in
January.
For the latest news on European markets, double click []
WALL STREET
U.S. stocks tumbled more than 4 percent on Tuesday as
investors pummeled bank shares on concerns a reworked plan to
shore up the financial sector may not be enough to thaw credit
markets and alleviate the deepening recession.
For latest Wall Street news, double click []
OTHER EQUITY NEWS
Stocks on the move [] Real-time Equity News []
Emerging markets equities [] E.Europe equities []
Hot stocks [] Stock markets []
Emerging Europe diaries []
European stocks report []
Major world stock market performance []
FTSE Eurotop 300 index...................<>
DJ STOXX index...........................<>
Eurotop 300 sector gainers/losers...<.PGL.FTEU3S>
Top 25 European pct gainers............<.PG.PEUR>
Top 25 European pct losers.............<.PL.PEUR>
European Equities speed guide.............<EUR/EQUITY>
Pan European indices.....................<EUR/INDICES1>
Pan European analysis.....................<EUR/STATS1>
REGIONAL INDICES
Warsaw WIG20 <> Istanbul ISE National 100 <>
Budapest SE Index <> Bucharest Beti <>
Prague PX <> Zagreb Crobex <>
Sofia Sofix <.SOFIX> Ljubljana SBI20 <>
MSCI Global Emerging Markets <.MSCIEF>
FTSEurofirst 300 <>
