WSE: Session Results

Polish equity market closed higher on Monday. The broad market measure, the WIG Index, surged by 1.05%. Except for clothes (-0.98%) and media (-0.07%), every sector in the WIG Index rose, with mining (+3.37%) outperforming.

The large-cap stocks' measure, the WIG30 Index, rose by 1.15%. There were only four decliners among the index components. Railway freight transport operator PKP CARGO (WSE: PKP) was the worst-performing name, tumbling by 1.81%. Other laggards were oil refiner LOTOS (WSE: LTS) and two retailers LPP (WSE: LPP) and CCC (WSE: CCC), losing between 0.13% and 1.61%. At the same time, chemical producer SYNTHOS (WSE: SNS) became the strongest performer with a 5.23% gain, supported by a target price hike by analysts of a regional investment bank. It was followed by copper producer KGHM (WSE: KGH), jumping by 4.07% as well as two banks MILLENNIUM (WSE: MIL) and MBANK (WSE: MBK), advancing by 4.93% and 2.94% respectively, as the both banks announced they saw no need to seek fresh capital despite authorities recommendation for banks to put more capital aside if they hold foreign exchange-denominated mortgages. Among other major outperformers were also thermal coal miner BOGDANKA (WSE: LWB) and genco TAURON PE (WSE: TPE), gaining 2.94% and 2.87% respectively. The former was helped by the announcement that the company's coal production reached 9 mln tons in 2016, that was at the upper end of the planned range of 8.5-9 mln tonnes. Elsewhere, it was reported that agricultural producer KERNEL (WSE: KER) had set final guidance for a benchmark five-year US dollar bond at 9% (+/-12.5bp), to price in range. Thus, the Ukrainian holding, rated B+/B, began marketing the notes at 9.25-9.50%. Order books are over $2 bln on the 144A/Reg S deal, which will price today via lead managers ING and JP Morgan. The KER stock added 0.36% on the back of this announcement.