Poland's blue-chips slide most in Europe as Russia-Ukraine tensions escalate

Powszechna Kasa Oszczednosci Bank Polski SA

19/11/2024 12:16

(Updates milestones, adds index losers)
    ** Poland's blue-chip index WIG20  .WIG20  slides over 3% to
more than 1-year lows and falls the most among regional indices
in Europe, amid market concerns over escalating geopolitical
tensions 
    ** Vladimir Putin approves an updated nuclear doctrine,
saying that Russia could consider using nuclear weapons if it
was subject to a conventional missile assault, supported by a
nuclear power
    ** Kyiv said on Tuesday it struck a Russian arsenal near the
town of Karachev in the Bryansk region, in what two Ukrainian
media outlets reported was a first strike with U.S.-supplied
ATACMS missiles
    ** Geopolitical tensions, especially Russia's revised
nuclear doctrine, seem to be weighing on the market, Lukasz
Janczak from Erste Group says
    ** The updated doctrine "essentially lowers the threshold
for using nuclear weapons", Piotr Matys, senior FX analyst at In
Touch Capital Markets in Poland, says 
    ** By 1200 GMT WIG20 is down 3.2% having fallen as much as
3.6% earlier in the session
        ** Banks PKO BP  PKO.WA  and Pekao  PEO.WA  are leading
losses, slipping 4.9% and 4.2%, respectively, followed by
refiner Orlen  PKN.WA , which is down 4%
  
    


 (Reporting by Marta Maciag and Rafal W. Nowak)
 ((Marta.Maciag@thomsonreuters.com))