Polish equity market closed lower on the first trading day of 2016. The broad market measure, the WIG Index, posted a 2.39% decline. Almost all sectors in the WIG produced losses. Media sector ( 0.18%) was the only exception. At the same time, materials (-5.96%) and oil and gas sector (-3.77%) posed the worst results.
The large-cap stocks' measure, the WIG30 Index, fell by 2.80%. Media group CYFROWY POLSAT (WSE: CPS) was the sole advancer among the index's components. The stock gained 0.57%. At the same time, copper producer KGHM (WSE: KGH) was the index's sharpest decliner, slumping 6.27% on news that the company may need to run asset impairment tests due to continued low commodities prices. It was followed by footwear retailer CCC (WSE: CCC), tumbling 5.74% on reported weak sales results for December. Other most prominent losers were oil refiner PKN ORLEN (WSE: PKN), genco ENEA (WSE: ENA) and FMCG wholesaler EUROCASH (WSE: EUR), plunging by 4.27%, 4.25% and 3.94% respectively.