Polish equity market closed lower on Friday. The broad market measure, the WIG Index, plunged by 1.34%. All sectors in the WIG Index were down. Materials (-4.42%) fared the worst, followed by oil and gas sector (-3.45%) and IT sector (-2.16%).
The large-cap WIG30 Index fell by 1.64%. PGING (WSE: PGN) was the weakest name among the index components, tumbling 6.69%. It was followed by utilities stocks by KGHM (WSE: KGH), declining 4.81% after the company's CFO announced they would cut CAPEX in 2016 due to continued pressure on copper prices. BZ WBK (WSE: BZW), ENEA (WSE: ENA) and TAURON PE (WSE: TPE) were also among top fallers, dropping by 2.87%-3.83%. On the other side of the ledger, PZU (WSE: PZU) and GTC (WSE: GTC) became the best performers, gaining 2.40% and 2.37% respectively.