Polish equities plunged on Friday. The broad market benchmark, the WIG Index, lost 1.97%. Almost all sectors in the WIG generated negative returns. The exception were telecoms ( 0.63%) and oil and gas sector ( 0.10%). At the same time, banking sector (-4.12%) and materials (-4.59%) were the weakest groups.
The large-cap stocks declined by 2.22%, as measured by the WIG30 Index. Within the index components, banks MBANK (WSE: MBK) and BZ WBK (WSE: BZW) were the weakest performers, slumping by 6.54% and 6.32% respectively. Copper producer KGHM (WSE: KGH) was also beaten down heavily, declining by 5.7% on tumbling copper prices. On the other side of the ledger, coking coal producer JSW (WSE: JSW) led a handful of gainers with a 7.67% advance, followed by thermal coal miner BOGDANKA (WSE: LWB) and property developer GTC (WSE: GTC), adding 1.97% and 1.47% respectively.