Globe Trade Centre SA (GTC), Poland’s biggest property developer by market value, declined for the first time in three day after Bank Zachodni WBK SA’s brokerage said it may be removed the CECE Composite Index next week.
GTC tumbled as much as 7.6 percent and was 4.7 percent lower at 7.12 zloty as of 12:15 p.m. in Warsaw.
The property developer will probably leave the index of central European companies after the March 14 session, Zachodni wrote in a note today.
The CECE Composite Index is a free float weighted price index made up of the most liquid stocks traded in Budapest, Prague and Warsaw Stock Exchange, according to Wiener Boerse AG’s website.
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