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Polish Stocks: Bioton, KGHM, Lotos, Votum Shares Move in Warsaw

Dec. 20 (Bloomberg) -- Poland’s WIG20 Index dropped 18.22, or 0.7 percent, to 2,741.30 at the 4:30 p.m. close in Warsaw, the lowest level in two weeks.

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

Bioton SA (BIO PW) added 0.02 zloty, or 14 percent, to 0.16 zloty, gaining the most in more than a year. The company signed a deal under which GlaxoSmithKline Plc will distribute Bioton’s insulin in Russia. Bioton estimates the value of the 15-year deal at as much as $600 million, Puls Biznesu reported, citing Chief Executive Officer Slawomir Ziegert.

KGHM Polska Miedz SA (KGH PW), the copper producer with the biggest European mine output, climbed for a second day, increasing 2.9 zloty, or 1.9 percent, to 157.9 zloty. Copper advanced on speculation that further signs of an improvement in the U.S. economy will boost the outlook for demand for the metal used in pipes and wires.

Grupa Lotos SA (LTS PW), Poland’s second-largest refiner, fell for the first time in four days, sliding 0.55 zloty, or 1.5 percent, to 37.3 zloty. Its 14-day relative strength index, which shows how rapidly prices advance or drop during a specified time period, was at 81.9 on Dec. 17. A reading of 70 or above signals to technical analysts that the price of an asset is set to fall.

Votum SA (VOTA PW) gained 0.55 zloty, or 14 percent, to 4.35 zloty, as the shares of the Polish financial-services company started trading on the Warsaw Stock Exchange.

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

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

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