STOCKS NEWS EMERGING EUROPE-Handlowy gains after Q3 results - News

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STOCKS NEWS EMERGING EUROPE-Handlowy gains after Q3 results

By: AFX | 04 Nov 2009 | 05:50 AM ET

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STOCKS NEWS Reuters Regional Stocks Stocks on the move Real-time Equity News REGIONAL INDICES Warsaw WIG20 Bucharest Beti Budapest SE Index Prague PX Zagreb Crobex Sofia Sofix Ljubljana SBI20 Istanbul ISE National 100 Moscow RTS 1030 GMT 04Oct2009 - Bank Handlowy up 6 pct after Q3 results -------------------------------------------------------------- Shares in Bank Handlowy, the Polish arm of troubled U.S. financial giant Citigroup, rise 5.7 percent after it posted smaller than expected provisions and earnings in line with forecasts. "Handlowy surprised us. They're dealing very well from the point of view of costs and provisions," says Tomasz Bursa, analyst at Ipopema brokerage. Handlowy reported a net profit of 216 million zlotys ($74.6 million), boosted by a 115 million from an expected tax refund. New reserves stood at 55 million zlotys compared to 111 million seen by analysts in a Reuters poll. rm://chris.borowski.reuters.com@reuters.net ($1=2.894 Zloty) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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