Polish Stocks: CEDC, KGHM, Lotos, PKN, Sygnity, NG2 Shares Move
Poland’s WIG20 Index declined 41.37, or 1.4 percent, to 2,878.44 at the 5:30 p.m. close in Warsaw, the steepest daily drop in more than two weeks.
The following are among the most active stocks on the Warsaw Stock Exchange today. Stock symbols follow company names.
Central European Distribution Corp. (CDC) slumped 1.77 zloty, or 5.5 percent, to 30.3 zloty, the lowest close in almost two weeks. The vodka producer was cut to “neutral” from “buy’ at Goldman Sachs Group Inc.
Industrial Milk Co. (IMC PW) jumped 0.25 zloty, or 2.3 percent, to 11.05 zloty as the Ukrainian milk producer started trading on the Warsaw bourse. The company sold 80.7 million zloty ($30 million) of shares at 10.8 zloty each in an initial public offering last month.
KGHM Polska Miedz SA (KGH) , the copper producer with the biggest European mine output, fell 4.9 zloty, or 2.5 percent, to 191.5 zloty. Copper declined on concern China, the world’s largest consumer of the metal, may take more steps to tighten credit, potentially curbing demand.
NG2 SA (CCC) advanced 0.5 zloty, or 0.9 percent, to 59.5 zloty, the first gain in nine days. Poland’s biggest publicly traded shoe retailer said sales in April climbed 28 percent to 106.5 million zloty.
PKN Orlen SA (PKN PW), Poland’s biggest oil company, sank 1.25 zloty, or 2.3 percent, to 53.75 zloty. Grupa Lotos SA (LTS) , the second-largest refiner, slumped 1.5 zloty, or 3.2 percent, to 45.5 zloty. Oil dropped on signs that crude inventories are accumulating in the U.S., the world’s largest consumer of the commodity.
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