Polish equity market closed flat Wednesday. Volatility stopped, the market calmed down ahead of Fed rate decision. The broad market measure, the WIG Index, slid down 0.08%. Sector performance within the WIG Index was mixed. Media sector ( 0.88%) outperformed, while materials (-1.31%) lagged behind.
The large-cap stocks inched up by 0.02%. Within the index components, railway freight transport operator PKP CARGO (WSE: PKP) became the session's best performer, gaining 7.95% on the announcement the company had reached agreement with labor unions. It was followed by genco TAURON PE (WSE: TPE) and clothing retailer LPP (WSE: LPP), which advanced 5.82% and 4.01% respectively. On the other side of the ledger, genco ENERGA (WSE: ENG) recorded the biggest drop, down 10.68%, after news the company had submitted preliminary offers to buy shares in a state-controlled coal group PGG for up to PLN 600 mln. Other major decliners were bank BZ WBK (WSE: BZW), chemical producer GRUPA AZOTY (WSE: ATT) and IT-company ASSECO POLAND (WSE: ACP), losing 3.06%, 1.99% and 1.8% respectively.