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Polish Stocks Drop to Two-Week Low on China Manufacturing Data

March 22 (Bloomberg) -- Poland’s WIG20 Index fell to a two-week low as manufacturing contracted in China and the euro area.

The gauge slid 1.2 percent to 2,270.26, the lowest intraday level since March 8, by 11:02 a.m. in Warsaw. KGHM Polska Miedz SA, the country’s sole copper producer, lost 2.2 percent to 144.7 zloty. China is the biggest copper consumer in the world.

A preliminary measure of Chinese manufacturing fell to 48.1 this month, the lowest since November, according to HSBC Holdings Plc and Markit Economics. A result below 50 indicates a contraction.

European services and manufacturing output contracted more than forecast in March. A euro-area composite index based on a survey of purchasing managers in both industries dropped to 48.7 from 49.3 in February, according to Markit. The euro region buys more than half of Polish exports.

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net

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

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