Polish equity market closed slightly lower on Monday. The broad market measure, the WIG Index, inched down 0.07%. From a sector perspective, materials (-1.95%) fared the worst, while chemicals (+1.86%) was the best-performing group.
The large-cap stocks' benchmark, the WIG30 Index, declined by 0.15%. In the index basket, bank BZ WBK (WSE: BZW) and genco TAURON PE (WSE: TPE) recorded the biggest drops, down 2.81% and 2.73% respectively. Other major underperformers were bank MBANK (WSE: MBK), copper producer KGHM (WSE: KGH) and FMCG-wholesaler EUROCASH (WSE: EUR), falling by 2.37%, 2.26% and 2.26% respectively. Elsewhere, bank PKO BP (WSE: PKO) lost 1.62% on the back of posted 1% y/y decline in its Q1 net profit to PLN 638.6 mln ($164.44 mln), broadly in line with forecasts. On the other side of the ledger, oil and gas producer PGNIG (WSE: PGN) topped the list of outperformers, jumping by 4.73% after the company reported a 12% y/y rise in its Q1 net profit to PLN 1.39 bln ($358 mln), beating analysts' consensus estimate of PLN 0.96 bln. Other noticeable gainers were chemical producers SYNTHOS (WSE: SNS) and GRUPA AZOTY (WSE: ATT), advancing 2.82% and 2.25% respectively.
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