Polish equities advanced on Tuesday. The broad market measure, the WIG Index, added 0.29%. Sector-wise, oil and gas sector (-1.70%) was the day's biggest laggard, while utilities (+3.27%) benefited the most.
The large-cap stocks' measure, the WIG30 Index, advanced by 0.17%. In the index basket, utilities names ENEA (WSE: ENA), PGE (WSE: PGE) and TAURON PE (WSE: TPE) were the strongest performers, each of which gained more than 4% on news the Polish government approved plan for fund to support troubled coal miner Kompania Weglowa. They were followed by KGHM (WSE: KGH) and CCC (WSE: CCC), climbing 3.14% and 2.47% respectively. On the other side of the ledger, PKN ORLEN (WSE: PKN) and KERNEL (WSE: KER) fared the worst, retreating 3.3% and 1.85% respectively. Other major decliners were stocks from banking sector, namely ALIOR (WSE: ALR), MBANK (WSE: MBK) and BZ WBK (WSE: BZW), which fell by a respective 1.68%, 1.62% and 1.25% as issues relating to conversion of Swiss franc-denominated mortgages into Polish zloty raised again.
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