04 March 2013 11:33 [Source: ICIS news]
LONDON (ICIS)--PKN Orlen’s model petrochemical margin for February fell to €709/tonne ($921/tonne) from €744/tonne in January, the Polish group said on Monday.
However, the model margin was an improvement on the €607/tonne which Orlen recorded for February 2012, it added.
Erste Group Bank has a ‘Sell’ rating on the stock of Orlen, arguing that its model margin will come under press this year and fall to €650/tonne for the whole of 2013 compared with the €685/tonne figure seen in 2012.
($1 = €0.77)
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