Polish equity market closed lower on Friday. The broad market measure, the WIG Index, fell by 0.33%. All sectors, but for banking one ( 2.17%), were down, with materials names (-2.57%) lagging behind.
The large-cap WIG30 Index inched down 0.05%. Genco ENERGA (WSE: ENG) was the weakest name among the index components, plunging by 4.98%, after Poland's Prime Minister said there is a need to merge coal mining companies with power generators to rescue the country's troubled coal mining industry. It was followed by coal miner BOGDANKA (WSE: LWB), insurer PZU (WSE: PZU) and oil and gas producer PGNIG (WSE: PGN), declining by 4.54%, 3.41% and 3.27% respectively. On the other side of the ledger, banking names BZ WBK (WSE: BZW), PEKAO (WSE: PEO) and MBANK (WSE: MBK) were session's outperformers, jumping by a respective 5.9%, 3.9% and 2.31% after recent steep losses.