Polish Stocks: KGHM Polska Miedz, Netia, Synthos Are Active
Poland’s WIG20 Index (WIG20) gained 0.1 percent to 2,288.65 as of 12:37 p.m. in Warsaw, extending this week’s advance to 0.6 percent.
The following are among the most active equities on the Warsaw Stock Exchange today. Stock symbols follow company names.
KGHM Polska Miedz SA (KGH) , Poland’s only copper miner, declined 1.3 percent to 151 zloty, snapping a five-day winning streak. Copper slumped for a third day in London before a report that may round out the weakest quarter for employment in more than two years in the U.S., the world’s second-biggest consumer of the metal.
Netia SA (NET) fell as much as 1.7 percent before trading 0.2 percent lower to 5.89 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) advanced 2.1 percent to 6.26 zloty. The management of state-controlled Zaklady Azotowe Pulawy SA (ZAP) , 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 gained 0.1 percent to 103 zloty.
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