Budimex Falls to Lowest in 3 Years on Writedown: Warsaw Mover
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Budimex SA, Poland’s largest construction company, plunged to its lowest in more than three years after saying it will provide for a fall in the value of a railway building unit it bought last year.
The shares dropped 11 percent to 58.8 zloty, the weakest level since March 2009, as of 10:32 a.m. in Warsaw, extending its second-quarter slump to 31 percent. This compares with a 1.2 percent retreat in the Warsaw benchmark WIG20 index. Volume of shares traded daily so far in the session is more than twice the stock’s three-month average.