Nov. 17 (Bloomberg) -- Poland’s WIG20 Index declined 40.19, or 1.7 percent, to 2,291.30 at 1:43 p.m. in Warsaw, heading for the steepest drop in a week.
The following are among the most active stocks on the Warsaw Stock Exchange today. Stock symbols follow company names.
Bank Pekao SA (PEO PW), controlled by UniCredit SpA, lost 2.6 percent to 137 zloty and Bank Handlowy SA (BHW PW), a unit of Citigroup Inc., declined 2.3 percent to 65.25 zloty. Getin Holding SA (GTN PW), the financial-services group controlled by billionaire Leszek Czarnecki, sank 1.9 percent to 7.59 zloty.
Banks fell across Europe after Spain’s borrowing costs surged to a euro-era record on waning demand at a bond sale, deepening concern the region’s debt crisis is deepening.
Central European Distribution Corp. (CDC PW), the vodka producer that owns Zubrowka and Parliament brands, jumped 14 percent to 11.99 zloty in Warsaw trading, extending this week’s advance to 24 percent. Its 14-day relative strength index, which shows how rapidly prices advanced or dropped during a specified time period, was at 26.3 yesterday. A reading of 30 or below signals to some investors that shares are set to rise.
KGHM Polska Miedz SA (KGH PW), the copper producer with the biggest European mine output, lost 2.3 percent to 166.9 zloty, heading for the first daily drop this week. Copper fell the most in a week on concern the effects of Europe’s debt crisis may spread to other economies, potentially eroding metals demand.
PKN Orlen SA (PKN PW), Poland’s biggest oil company, fell 2.2 percent to 38.4 zloty and Grupa Lotos SA (LTS PW), the second-largest refiner, declined 1.4 percent to 28.15 zloty as oil fell from a five-month high.
Polimex-Mostostal SA (PXM PW), Poland’s second-largest construction company, jumped the most in more than a month, rising 9.4 percent to 1.4 zloty. Engineering company Rafako SA (RFK PW) jumped 5 percent to 9.7 zloty and Mostostal Warszawa SA (MSW PW), a unit of Spain’s Acciona SA, advanced 5.4 percent to 23.41 zloty.
PGE SA, Poland’s largest power utility, picked a group including Polimex, Rafako and Mostostal to build two coal-fired units at its Opole plant, according to a statement on its website.
--Editors: Stephen Kirkland, Peter Branton
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