Poland’s WIG20 Index fell 0.9 percent, to 2,183.98 in Warsaw, dropping for the first time this year.
The following were among the active equities in the Warsaw market today. Stock symbols follow company names.
Bank Pekao SA (PEO PW), majority-owned by UniCredit SpA, declined 3.1 percent to 140 zloty, closing at the lowest level since Dec. 19. PKO Bank Polski SA (PKO PW), Poland’s biggest bank, lost 0.9 percent to 33 zloty and BRE Bank SA (BRE PW), a unit of Commerzbank AG, slumped 3.9 percent to 250 zloty.
Banks fell across Europe as a proposed rights offer from UniCredit boosted concern that banks will need to raise more capital to weather the euro region’s debt crisis.
KGHM Polska Miedz SA (KGH PW), Poland’s sole copper and silver producer, declined for a second day, retreating 1.1 percent to 115 zloty. Copper fell as Societe Generale SA said prices may be poised to drop almost 10 percent on growing concern about a global economic slowdown.
Lubelski Wegiel Bogdanka SA (LWB PW) jumped 4.4 percent to 111 zloty, rising for a third day after Societe Generale raised Poland’s second-largest publicly traded coal miner to “buy” from “hold”.
PZU SA (PZU PW) dropped to the lowest level since Oct. 7, losing 2.6 percent to 307.2 zloty. Poland’s largest insurer is eyeing the country’s banking market for potential takeovers as prices of some lenders are low, Chief Executive Officer Andrzej Klesyk told Dziennik Gazeta Prawna in an interview. PZU would buy a stake in a bank with the intention of selling it “after some time,” Klesyk said, according to the report.