KGHM Jumps Most in Six Years on Plans for Copper Tax Reduction

Bloomberg reported that Poland’s KGHM (FWB:KGHA) has gained the most in six years on the back of plans to reduce copper taxes in the country.
As quoted in the publication:

State-controlled KGHM soared as much as 12 percent and closed at 98 zloty in Warsaw, a gain of 8.1 percent. The company was the biggest gainer among European companies in the MSCI Emerging Market stock index and in Warsaw’s benchmark WIG20 gauge, which increased less than 0.1 percent on Monday.
Law & Justice, which leads the ruling Civic Platform in opinion polls before the Oct. 25 general election, said it would file a motion to “cancel the copper tax” as profitability of KGHM’s mines are “falling radically,” the party said in its Twitter account. Hours later, Prime Minister Ewa Kopacz said during a visit to the company’s headquarters in Lubin that the government must “analyze” whether the miner’s tax structure is optimal for its domestic investments.

Click here for the full Bloomberg article.