Wednesday preserved a downward tendency in Polish equity market. The broad market measure, the WIG Index, lost 0.42%. Sector-wise, oil and gas sector ( 1.27%), materials ( 0.45%) and technologies ( 0.21%) were the only sectors, which posted positive results. At the same time, chemicals names fared the worst (-2.72%), followed by telecommunications (-2.18%) and utilities (-1.86%) stocks. In addition, it should be noted, that the Polish banking stocks sub-index WIG-BANKI hit a nearly 2-year low, dragged down by a new plan of the ruling Civic Platform party to force banks to pay half of the cost of converting Swiss franc loans into zlotys.
The large-cap stocks fell by 0.29%, as measured by the WIG30 Index. Within the indicator's components, chemicals name GRUPA AZOTY (WSE: ATT) was the sharpest decliner, plunging 4.77%. It was followed by utilities names ENEA (WSE: ENA) and Tauron PE (WSE: TPE) as well as banking stocks BZ WBK (WSE: BZW) and HANDLOWY (WSE: BHW), posting losses in the range between 2.46% and 3.17%. On the other side of the ledger, clothing retailer LPP (WSE: LPP) recorded the biggest climb, advancing 2.97%. Oil and gas sector names PGNIG (WSE: PGN) and PKN ORLEN (WSE: PKN) added 2.07% and 1.11% respectively. Elsewhere, PKO BP (WSE: PKO) corrected upwards by 0.91% after recent down-surge.