Poland - Factors to Watch Nov 10
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):
PEKAO
The net profit at Poland's No.2 lender fell by 13 percent year-on-year in the third quarter to 610.5 million zlotys ($154.2 million), but came in above analysts' expectations.
PZU
Polish insurer posted a slightly larger than expected 39-percent year-on-year drop in its third-quarter net profit to 511 million zlotys ($129 million), due to falling stock prices that hurt the firm's return on investments.
PGE
Poland's biggest power producer said on Monday it almost tripled to 1.03 billion zlotys its third-quarter net profit year on year, thanks to higher output, power prices and cost cutting.
TAURON
Polish utility is to release third-quarter results after market closes. Analysts expect the power producer to post net profit of 288 million zlotys.
GOVERNMENT
Poland's Eurosceptic conservatives named the respected chief executive of a Spanish-owned bank on Monday to oversee economic policy in a new cabinet that also includes ministers critical of Russia and the European Union.
BUDGET
Poland's finance minister designate Pawel Szalamacha said on Monday he wants to amend the 2016 budget draft, which may result in an 1-1.5 billion zlotys ($253-$380 mln) increase in the central budget deficit.
ELECTION PROMISES
According to Rzeczpospolita daily source, Mateusz Morawiecki, development minister-designate proposed to Law and Justice a precise plan on financing party's election promises using state companies' potential.
SWISS FRANCS
Presidential assumptions to the draft bill on converting Swiss franc-denominated mortgages signal that the solution of the problem may cost 38 billion zlotys, Parkiet daily quoted DM Trigon brokerage's report.
LTE AUCTION
Poland's digitalisation minister-designate Anna Strezynska was quoted as saying by Puls Biznesu daily that she saw a need to revise results of the recent LTE frequencies auction.
****Reuters has not verified these stories and does not vouch for their accuracy.****
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