Key insights
- The WIG30 in Poland closed lower, driven by losses in IT, Banking, and Developer sectors. Crude oil prices increased significantly. The EUR/PLN and USD/PLN exchange rates both rose. This indicates potential inflationary pressure and a weaker Polish Zloty, which could have a minor negative impact on US equities due to broader European economic concerns.
Investing.com – Poland stocks were lower after the close on Tuesday, as losses in the Information Technology, Banking and Developers sectors led shares lower.
At the close in Warsaw, the WIG30 lost 0.93% to hit a new 1-month low.
The best performers of the session on the WIG30 were Orange Polska SA (WA:OPL), which rose 3.22% or 0.42 points to trade at 13.47 at the close. Meanwhile, Zabka Group SA (WA:ZAB) added 2.28% or 0.48 points to end at 21.49 and Polski Koncern Naftowy ORLEN SA (WA:PKN) was up 1.87% or 2.38 points to 129.94 in late trade.
The worst performers of the session were Benefit Systems SA (WA:BFT), which fell 4.06% or 140.00 points to trade at 3,310.00 at the close. CD PROJEKT SA (WA:CDR) declined 3.57% or 8.70 points to end at 235.30 and Rainbow Tours SA (WA:RBW) was down 3.15% or 4.20 points to 129.00.
Falling stocks outnumbered advancing ones on the Warsaw Stock Exchange by 310 to 255 and 106 ended unchanged.
Crude oil for May delivery was up 4.55% or 4.01 to $92.14 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June rose 3.89% or 3.73 to hit $99.65 a barrel, while the June Gold Futures contract rose 0.29% or 12.80 to trade at $4,452.30 a troy ounce.
EUR/PLN was up 0.51% to 4.28, while USD/PLN rose 0.72% to 3.69.
The US Dollar Index Futures was up 0.47% at 99.19.