Polish equity market continued to decline on Monday. The broad market measure, the WIG index, lost 1.26%. From a sector perspective, utilities and banks fared the worst, dropping 2.94% and 2.87% respectively. The best-performing group was oil and gas sector, gaining 2%.
The large-cap stocks' measure, the WIG30 Index, declined by 1.51%, dragged down by weak performers of utilities name PGE (WSE: PGE) as well as a number of banking sector stocks, namely PEKAO (WSE: PEO), PKO BP (WSE: PKO), MBANK (WSE: MBK) and BZ WBK (WSE: BZW), which produced losses between 2.57% and 4.27%. On the other side of the ledger, oil and gas name PKN ORLEN (WSE: PKN) recorded the strongest daily performance, soaring by 3.57% on improved analyst outlooks for the company. KERNEL (WSE: KER) emerged as the second best-performing stock in the WIG30, adding 2.81% on reported good operational update. In addition, LOTOS (WSE: LTS) boosted by 1.75%, catching up with its oil and gas sector peers.