Poland's main large-cap index finished the Tuesday session in positive territory, led by strength in Basic Materials, Oil & Gas and Food stocks. At the Warsaw close the WIG30 climbed 1.24% and recorded a new all-time high.
The session's top advance on the WIG30 was Allegro (WA:ALEP), which surged 9.81% - an increase of 3.93 points - to finish at 43.93. KGHM Polska Miedz SA (WA:KGH) added 4.57%, or 13.95 points, to close at 319.40. Synektik (WA:SNTP) gained 2.45%, rising 9.40 points to 392.40 by the market close.
On the other side of the ledger, Bank Polska Kasa Opieki SA (WA:PEO) was the weakest WIG30 constituent, slipping 2.59% or 6.30 points to end the day at 237.00. Cyfrowy Polsat SA (WA:CPS) fell 1.35%, a decline of 0.22 points, to close at 15.77. Alior Bank SA (WA:ALRR) finished down 1.19%, losing 1.70 points to 141.20.
Market breadth on the Warsaw Stock Exchange tilted toward declines, with 302 issues falling and 235 advancing. A total of 98 stocks finished unchanged.
Two notable price milestones were recorded during the session. Shares of Allegro reached three-year highs on the 9.81% jump to 43.93. Synektik's share price moved to an all-time high, closing up 2.45% at 392.40.
Commodities traded higher alongside equities. Crude oil for August delivery rose 1.59% - up 1.24 to $79.38 per barrel. Brent oil for September delivery advanced 1.69%, an increase of 1.41, to settle at $84.71 per barrel. Meanwhile, the August Gold Futures contract climbed 2.07%, gaining 83.10 to trade at $4,088.80 per troy ounce.
Currency moves versus the Polish zloty were modest. The euro was down 0.12% versus the zloty to 4.32 (EUR/PLN), while the dollar fell 0.64% to 3.78 (USD/PLN). The US Dollar Index Futures eased 0.45% to 100.58.
Market context
The upward move in the WIG30 was supported by gains among materials and energy-related names, while some bank and media stocks weighed on the index. Commodity prices, including crude oil and gold futures, also moved higher during the session.