Central European stocks advance on US inflation
Federal Reserve policy makers meet on Sept. 20 to decide whether to resume increasing interest rates to control inflation after leaving them unchanged this month. PKO, Poland's largest bank, gained 2.4% to 38.5 zloty. Raiffeisen, the biggest non-Russian lender in the former Soviet Union, climbed 4.5% to € 71.26. Oesterreichische Post advanced 5.4% to a record € 24.77. Shares of the state-controlled postal service were raised to „outperform” from „in-line” by Matthew Lloyd, an analyst at Goldman Sachs, citing better-than-expected operational performance in the H1. Profit from operations rose 21% to € 65.6 million ($83.2 million) in the period, the company said on Aug. 11. AB Mazeikiu Nafta, Lithuania's refinery, dropped 7.4% to 7.60 litai. OAO Transneft, Russia's monopoly oil-pipeline operator, may close the main pipeline to Lithuania because it is too old, the Moscow Times said, citing CEO Semyon Vainshtok. Giedrius Karsokas, spokesman for Mazeikiu Nafta, declined to comment on the report. (Bloomberg)
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