Poland's main index finished the trading session lower on Friday as weakness across several resource and energy-related sectors pushed the market into negative territory.
At the close in Warsaw the WIG30 was down 1.70%.
Top and bottom movers
Among the WIG30 constituents, X Trade Brokers Dom Maklerski SA (WA:XTB) was the best performer, rising 2.63% or 2.78 points to finish at 108.60. Synektik (WA:SNTP) gained 1.53% or 4.20 points to close at 278.00, while Pepco Group Nv (WA:PCOP) advanced 1.27% or 0.43 points to end the session at 34.20.
On the downside, KGHM Polska Miedz SA (WA:KGH) recorded the steepest drop, falling 6.66% or 24.65 points to 345.45 at the close. Enea SA (WA:ENAE) declined 2.42% or 0.50 points to 20.16, and PGE Polska Grupa Energetyczna SA (WA:PGE) fell 2.19% or 0.23 points to 10.26.
Market breadth and session composition
Declining issues outnumbered advancing ones on the Warsaw Stock Exchange by 287 to 242, while 96 stocks finished unchanged.
Commodities and currency moves
Commodity markets moved lower alongside the equity retreat. Crude oil for July delivery lost 2.44% or 2.27 to trade at $90.77 a barrel. Brent oil for August delivery fell 1.62% or 1.54 to $93.49 a barrel. The August Gold Futures contract slipped 2.94% or 132.58 to trade at $4,372.42 a troy ounce.
On the foreign exchange front, the euro appreciated against the zloty with EUR/PLN up 0.29% to 4.25, while USD/PLN climbed 0.87% to 3.68. The US Dollar Index Futures was higher by 0.53% at 99.90.
Summary
The Warsaw market closed lower as sector-led selling in Basic Materials, Oil & Gas and Energy pulled the WIG30 down 1.70%. KGHM was the heaviest decliner, while XTB, Synektik and Pepco were notable gainers. Commodity prices and currency moves accompanied the session's losses.
Key points
- WIG30 closed down 1.70% on Friday, reflecting sector-specific weakness.
- KGHM led declines with a 6.66% drop to 345.45; XTB was the top gainer at 108.60, up 2.63%.
- Energy and commodities markets retreated - Brent and WTI both fell, and gold futures were lower; EUR/PLN and USD/PLN both moved higher.
Risks and uncertainties
- Further downside pressure in resource and energy sectors could continue to weigh on the WIG30 index - this impacts Basic Materials, Oil & Gas and Energy names.
- Volatility in global commodity prices, evidenced by declines in crude oil and gold futures, may add uncertainty for companies exposed to those markets - particularly metal producers and energy firms.
- Moves in currency pairs such as EUR/PLN and USD/PLN introduce exchange-rate risk for exporters and importers operating in zloty-denominated markets.
The data above reflects closing prices and session movements as reported for the trading day.