Polish Stocks: Azoty, Bioton, Jastrzebska, KGHM, PGNiG, Pulawy
Poland’s WIG20 Index declined 73.13, or 3.2 percent, to 2,222.09 at the 5:30 p.m. close in Warsaw, the steepest drop in almost a month.
The following are among the most active stocks on the Warsaw Stock Exchange today. Stock symbols follow company names.
Azoty Tarnow (ATT PW) fell for a second day, retreating 3.3 percent to 30.2 zloty as the state-controlled chemical producer was cut to “hold” from “buy” at ING Groep NV.
Bioton SA (BIO) sank 11 percent to 0.08 zloty as owners of Poland’s largest biotechnology company approved a capital increase of as much as 319.1 million zloty ($101 million) through the issue of as many as 1.6 billion warrants for Bioton shares to Troqueera Enterprises Ltd.
Jastrzebska Spolka Weglowa SA (JSW PW), the producer of coking coal for the steel industry, sank for a fourth day, sliding 4.4 percent to 87.4 zloty. ArcelorMittal, the world’s largest steelmaker, may temporarily shut one of two blast furnaces at its plant in southern Poland, Gazeta Wyborcza reported, citing Sylwia Winiarek, the Polish unit’s spokeswoman.
KGHM Polska Miedz SA (KGH) , the copper producer with the biggest European mine output, tumbled 6.9 percent to 134 zloty, the steepest drop in four weeks. Copper fell on concern demand may wane as Europe’s debt crisis lingers and companies question the strength of the U.S. economic rebound.
Polskie Gornictwo Naftowe i Gazownictwo SA (PGN) , Poland’s biggest gas distributor, fell 3.6 percent to 3.72 zloty, the lowest close in more than two months, as Societe Generale SA cut its share-price estimate to 3.5 zloty from 4.05 zloty.
Zaklady Azotowe Pulawy SA (ZAP) had its biggest drop in more than two weeks, sliding 3.2 percent to 86 zloty, as ING cut its price estimate for the fertilizer producer to 77.8 zloty from 95.1 zloty and maintained its “sell” recommendation.
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