February 7, 2013 / 5:41 PM / 5 years ago

Eurocash replaces TVN in Poland's blue-chip index

WARSAW, Feb 7 (Reuters) - Polish wholesaler and distributor Eurocash replaced broadcaster TVN in Warsaw bourse’s blue-chip index WIG20, the bourse said in a statement on Thursday.

Shares of the broadcaster have fallen nearly 10 percent this year, underperforming the main index, as its core operations have been hit by a drop in advertising on the back of an economic slowdown.

Eurocash is Poland’s second-largest distributor of fast-moving consumer goods (FMCG) including food, tobacco, cosmetics and alcohol. The market leader is Portugal’s Jeronimo Martins. (Reporting by Dagmara Leszkowicz; Editing by Elaine Hardcastle)

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