Global fears wipe away local gains on WSE

Data on Q2 GDP in the euro zone and retail sales in July turned out to be below expectations. By the end of trade yesterday the WIG20 fell by 1.26% as compared to Tuesday's closing. The worst results on the blue-chip index were recorded by Getin and Pekao, as investors wanted to make a quick exit after the two companies' share prices jumped by 4.5-5.5% a day earlier. It was also a poor day for PKN Orlen, which saw its share prices fall as investors increasingly fear that falling oil prices will have an impact on the company's financial results.

Source:Rzeczpospolita