Polish equities were lower on Wednesday. The broad market measure, the WIG Index, declined 2.16%. Media stocks ( 0.11%) and food names ( 0.05%) were the only groups, which posted positive results. At the same time, materials (-7.82%) was the worst-performing sector, followed by banks (-3.09%).
Large-cap stocks measure, the WIG30 Index, underperformed the broad market, recording a 2.46% drop. Copper miner KGHM (WSE: KGH) was the sharpest decliner among the indicator's constituents with its shares' quotations being beaten down 8.79% as copper prices slide. Additional pressure came from news the company, along with PGE (WSE: PGE; -0.29%) and GRUPA AZOTY (WSE: ATT; -0.93%), offered to contribute to a state-run fund which will be used to bail out troubled coal miners. Other biggest laggards were PZU (WSE: PZU), PKO BP (WSE: PKO) and SYNTHOS (WSE: SNS), tumbling 5.70%, 4.09% and 4.03% respectively. On the other side of the ledger, EUROCASH (WSE: EUR) and KERNEL (WSE: KER) were recorded as the biggest gainers, advancing 3.67% and 2.53% respectively.