Polish equities closed lower on Wednesday. The broad market benchmark, the WIG Index, lost 0.16%. Sector performance in the WIG Index was mixed. Banking sector (-1.41%) recorded the biggest decline, while materials (+2.12%) fared the best.
The large-cap stocks fell by 0.22%, as measured by the WIG30 Index. Within the index components, banking sector name MBANK (WSE: MBK) was the worst performer, tumbling by 3.37% on the back of weak Q3 earnings results. The bank reported its net profit fell by 28% y/y to PLN 230.5 mln in Q3, but exceeded analysts' consensus estimate of PLN 219.4 mln. Other largest laggards were genco TAURON PE (WSE: TPE) and two other banks PKO BP (WSE: PKO) and MILLENNIUM (WSE: MIL), plunging by 2.67%, 2.40% and 2.22% respectively. On the plus side, coking coal miner JSW (WSE: JSW) topped the list of gainers, rebounding by 5.26% after yesterday's decline. It was followed by oil refiner PKN ORLEN (WSE: PKN), genco ENEA (WSE: ENA) and bank ING BSK (WSE: ING), climbing by 2.44%, 1.59% and 1.41% respectively.
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