Central European Stocks Drop for Third Day

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Central European Stocks Drop for Third Day

Central European stocks fell for a third day, led by KGHM Polska Miedz SA and PKN Orlen SA. Raiffeisen International Bank Holding AG paced declines by financial stocks, Bloomberg reported.

The NTX Index of 30 companies in the region dropped 2.8 percent to 1,866.21 at 9:34 a.m. in Vienna.

Austria's ATX Index fell 2.5 percent, the Czech PX Index declined 2.2 percent and Hungary's BUX Index lost 2 percent. Poland's WIG20 Index fell 2.9 percent.

KGHM, the Polish company that mines more copper in Europe than any competitor, slumped 8.3 percent to 100 zloty. PKN, Poland's largest oil company, lost 6 percent to 51.1 zloty.

OMV AG, the biggest energy company in the region, slid 3.1 percent to 44.1 euros.

Raiffeisen, Russia's biggest non-domestic lender, declined 4.1 percent to 103.88 euros, and OTP Bank Nyrt., the largest bank in Hungary, lost 3.5 percent to 8,998 forint.

CEZ AS, the biggest Czech utility, fell 2.8 percent to 1,045 koruna.

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