Polish equity market closed higher on Friday. The broad market measure, the WIG index, added 0.26%. Sector performance within the WIG Index was mixed. Materials sector ( 3.17%) was the strongest group, while food sector (-0.61%) lagged behind.
The large-cap benchmark, the WIG30 Index, rose by 0.24%. Within the index components, coal miners JSW (WSE: JSW) and BOGDANKA (WSE: LWB) led the gainers, skyrocketing by 14.43% and 6.87% respectively on news that China plans to cut overcapacity in the country's coal industry, which is suffering from declining demand and falling prices. As China's State Council stated, the coal production in the country will be cut by 500 mln tonnes (or 20%) in the next three to five years. Other major advancers were FMCG wholesaler EUROCASH (WSE: EUR), oil refiner PKN ORLEN (WSE: PKN) and copper producer KGHM (WSE: KGH), climbing 4.65%, 3.07% and 2.36% respectively. On the other side of the ledger, bank ALIOR (WSE: ALR) and retailers CCC (WSE: CCC) and LPP (WSE: LPP) were among the weakest performers, dropping by 2.97%, 2.9% and 2.86% respectively.