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    10.03.2016 16:57 WSE: Session Results

    Polish equity market closed higher Thursday. The broad market measure, the WIG Index advanced by 0.44%. Sector performance within the WIG Index was mixed. Banking sector ( 1.33%) was the strongest group, while materials (-2.30%) lagged behind.

    The highlight of the day was the decision of the European Central Bank to lower its main interest rate to a record low of 0%. In addition, the ECB increased from EUR 60 to 80 bln monthly expenditure for QE program and expanded the range of instruments that are eligible for regular purchases, adding to Treasury and government bonds non-financial corporations bonds. Investors responded enthusiastically, the WIG20 temporarily broke the barrier of 1,900 points, growing about 1.5% in relation to Wednesday's closing level. The end of trading, however, was disappointing, as the WIG20 Index pulled back from the 1,900 points level on light trading turnover.

    The large-cap stocks' measure, the WIG30 Index, added 0.47%. In the index basket, videogame developer CD PROJEKT (WSE: CDR) led the way up, climbing by 3.75% after the company stated that its FY 2015 net profit rose to PLN 342 mln from PLN 5 mln a year earlier. Other major gainers were genco ENERGA (WSE: ENG), insurer PZU (WSE: PZU), thermal coal miner BOGDANKA (WSE: LWB) and three banking sector names ALIOR (WSE: ALR), BZ WBK (WSE: BZW) and ING BSK (WSE: ING), growing by 2.39%-3.21%. On the other side of the ledger, copper producer KGHM (WSE: KGH) recorded the largest decline of 2.56%. It was followed by clothing retailer LPP (WSE: LPP) and FMCG-wholesaler EUROCASH (WSE: EUR), which tumbled by 1.76% and 1.23% respectively.


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