Polish equity market closed higher on Wednesday. The broad market measure, the WIG index, surged by 1.06%. Sector performance within the WIG was mainly positive as nine sectors recorded advances, with media (+2.77%) outpacing.
The large-cap stocks’ measure, the WIG30 Index, rose by 1.08%. In the index basket, genco ENERGA (WSE: ENG) posted the strongest advance, up 6.46%. The company stated it is in talks with the European Investment Bank (EIC) on a EUR 250 mln issue of hybrid bonds in order to finance distribution and generation investments. The deal with EIB is expected to be struck near the end of first quarter of 2017. Other major outperformers were media group CYFROWY POLSAT (WSE: CPS), chemical producer GRUPA AZOTY (WSE: ATT), genco ENEA (WS: ENA) and two oil refiners LOTOS (WSE: LTS) and PKN ORLEN (WSE: PKN), which added between 2.69% and 4.04%. On the other side of the ledger, bank BZ WBK (WSE: BZW) and genco PGE (WSE: PGE) led a handful of losers, dropping by 1.79% and 1.18% respectively.