Famur Set for Two-Week Low as BRE Cuts Mining Equipment Producer

Famur SA (FMF), a Polish maker of mining equipment, headed for a two-week low after BRE Bank SA (BRE) downgraded the stock to reduce from hold.

The shares fell 1.3 percent to 3.85 zloty, the lowest level on a closing basis since May 25, as of 9:06 a.m. in Warsaw trading. The nine-month share-estimate was set at 3.6 zloty. Famur has climbed 34 percent this year, compared to a 1 percent gain in the WIG20 Index.

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