Polish Stocks: KGHM Polska Miedz, Netia, Synthos Are Active

Poland’s WIG20 Index fell 0.6 to 2,273.28 at the 5:30 p.m. close in Warsaw, breaking five weeks of advances with a 0.1 percent decline over five days.

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

KGHM Polska Miedz SA (KGH PW), Poland’s only copper miner, declined 1.9 percent to 150.1 zloty, snapping a five-day winning streak. Copper slumped the most in two weeks in New York after slower-than-forecast growth in U.S. payrolls fueled concern that economic recovery is slowing in the world’s second-biggest consumer of the metal.

Netia SA (NET PW) fell as much as 1.7 percent before closing 0.7 percent lower to 5.86 zloty after ING Groep NV recommended selling share of Poland’s second-largest fixed-line phone company. ING cut its recommendation from buy, citing increased competition and a market slowdown.

Synthos SA (SNS PW) advanced 1.1 percent to 6.2 zloty, the highest in two weeks. The management of state-controlled Zaklady Azotowe Pulawy SA (ZAP PW), Poland’s biggest fertilizer producer, is recommending shareholders reject a takeover bid from Synthos because the offer price of 102.50 zloty a share is “significantly below” fair value, the company said in a regulatory statement after the market close yesterday. Pulawy fell 0.3 percent to 102.6 zloty.

David McQuaid in Warsaw at dmcquaid1@bloomberg.net

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