Polish equity market closed higher on Tuesday. The broad market measure, the WIG index, added 0.31%. Sector-wise, food stocks (+2.18%) fared the best, while clothes sector names (-1.35%) fell the most.
The large-cap benchmark, the WIG30 Index, rose by 0.33%. Within the index components, the gainers were led by banking sector name ING BSK (WSE: ING), which jumped by 4.73%, recovering after a 5.4% drop, recorded in the previous two days. Other major advancers were bank BZ WBK (WSE: BZW), agricultural producer KERNEL (WSE: KER) and genco TAURON PE (WSE: TPE), climbing by 2.5%, 2.33% and 1.72% respectively. The former was supported by the bank’s CEO Michal Gajewski statement that the BZ WBK’s loan portfolio increased by 7.9% in 2016 to PLN 107.9 bln in 2016. In addition, Mr. Gajewski expressed hope that the bank would outperform the 3.7% loan book growth forecast for the market in 2017. On the other side of the ledger, clothing retailer LPP (WSE: LPP) topped the list of the decliners with a 2.66% drop, followed by chemical producer GRUPA AZOTY (WSE: ATT) and property developer GTC (WSE: GTC), falling by 2.59% and 1.73% respectively.