** Shares of Poland's biggest utility PGE GPW:PGE rise around 10% after it reported strong preliminary Q1 results
** PGE expects to post a Q1 net profit of 2.42 billion zlotys ($638.94 million) and EBITDA of 4.31 billion zlotys
** Erste Securities analyst Petr Bartek says the numbers are "clearly strong", resulting from much lower hedged CO2 prices y/y, colder weather and low generation from renewable energy sources
** Bartek adds revenue from capacity and ancillary payments also exceeded expectations
($1 = 3.7875 zlotys)