Bloomberg News

Poland’s WIG20 Extends Decline on G-20, Heads for Four-Week Low

February 27, 2012

Poland’s benchmark WIG20 Index (WIG20) is on track to close at a four-week low as European stocks retreated after the Group of 20 nations rebuffed calls from the euro area to boost the International Monetary Fund’s resources.

WIG20 Index lost as much as 1 percent to 2,288.23, the lowest level since Jan. 30 and traded 0.7 percent lower at 11:40 a.m. in Warsaw. The Stoxx Europe 600 Index (SXXP) declined 0.8 percent to 262.67, extending last week’s 0.4 percent retreat.

TVN SA (TVN), Poland’s biggest television network and Bank Handlowy w Warszawie SA, a unit of Citigroup Inc. were among the biggest stock laggers. TVN lost 3 percent to 10.91 zloty and Bank Handlowy fell 2.1 percent to 76.5 zloty.

G-20 officials told the euro region’s political leaders to provide more financial firepower before they consider lending outside support, putting the onus on Germany, already the biggest national contributor to the bailouts.

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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