Polish Stocks: KGHM, Netia, PKO Bank, Pulawy Move in Warsaw

Poland’s WIG20 Index was unchanged at 2,188.73 at the 5:30 p.m. close in Warsaw. The measure tumbled 22 percent in the past three months, the biggest quarterly decline since December 2008.

The following are among the most active stocks on the Warsaw Stock Exchange today. Stock symbols follow company names.

KGHM Polska Miedz SA (KGH) , the copper producer with the biggest European mine output, declined for a third day, losing 2 zloty, or 1.5 percent, to 131 zloty. Copper fell on speculation demand for the metal from China, the biggest buyer, will slow after manufacturing declined.

Netia SA (NET) climbed 0.04 zloty, or 0.8 percent, to 4.95 zloty, its second day of gains. Poland’s second-largest fixed-line phone operator agreed to buy Telefonia Dialog SA and Crowley Data Poland Sp. z o.o. for a total of 1.04 billion zloty ($316 million), the company said in regulatory statements late yesterday.

PKO Bank Polski SA (PKO PW) retreated 0.42 zloty, or 1.3 percent, to 32.9 zloty, the steepest daily decline in a week, as UBS AG cut its recommendation for Poland’s biggest bank to “neutral.”

Zaklady Azotowe Pulawy SA (ZAP) advanced for a second day, adding 2.5 zloty, or 3 percent, to 86.7 zloty. The state- controlled fertilizer maker signed a preliminary deal to buy rival Azoty-Adipol SA from the country’s government.

To contact the reporter on this story: Pawel Kozlowski in Warsaw at pkozlowski@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.