Poland - Factors to Watch July 21

Following are news stories, press reports and events to watch that may affect Poland's financial markets on Friday. ALL TIMES GMT (Poland: GMT + 2 hours):

JUDICIARY OVERHAUL

The judiciary overhaul and changes to the way courts operate introduced by Poland's ruling Law and Justice could affect business, although effects such lower investment will not be observed immediately, the Rzeczpospolita daily said, quoting economists and entrepreneurs.

On Thursday, tens of thousands of Poles protested against a new law that allows parliament to appoint Supreme Court judges, defying a European Union warning that the move undermines democracy and the rule of law.

DATA

June M3 money supply to be released at 1200 GMT.

PKN

Poland's biggest oil refiner, PKN Orlen, said on Friday that its second-quarter net profit fell 4 percent to 1.54 billion zlotys ($424.65 million), missing analysts expectations as costs rose more than sales.

****Reuters has not verified stories reported by Polish media and does not vouch for their accuracy.****

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