PKN Orlen SA (PKN) and Grupa Lotos SA (LTS), Poland’s top refiners, fell as oil dropped to the lowest price in eight months after U.S. stockpiles unexpectedly increased and a report signaled China’s manufacturing will shrink this month.
Orlen retreated 0.6 percent to 36.71 zloty at 2:58 p.m. in Warsaw, falling for the first time in three days, and Lotos declined 2.2 percent to 27.54 zloty, sliding for a second day.
Oil tumbled below $80 a barrel for the first time in eight months in New York after Federal Reserve policy makers lowered the outlook for U.S. economic growth and employment, while a preliminary reading of Chinese manufacturing by HSBC Holdings Plc and Markit Economics pointed to a contraction for an eighth month. China is the second-biggest user of oil after the U.S.
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