PGNiG Heads for Record Monthly Drop as Gas Outlook Worsens
- State-controlled company faces lower earnings from gas trading
- Potential deal with Russia's Gazprom may be positive for stock
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Poland’s former gas monopoly is heading for the steepest monthly slump on record as it loses market share amid looming liberalization.
The Warsaw-based PGNiG plummeted 3.2 percent to 5.44 zloty at 1:45 p.m. in Warsaw, extending its November decline to 21 percent, the most since its debut in 2005. The stock is trailing a 5.1 percent drop in the benchmark WIG20 Index.