Polish equity market closed flat on Wednesday. The broad market measure, the WIG Index, edged up 0.05%. Sector performance within the WIG Index was mixed. Clothes sector (+1.25%) outperformed, while telecoms (-1.05%) lagged behind.

The large-cap WIG30 Index inched up 0.05%. Within the index components, bank MBANK (WSE: MBK) was the best-performing name, climbing by 4.9% on the back of better-than-expected Q4 FY 2016 earnings. The bank reported its net profit fell by 5% y/y to PLN 292.5 mln in Q4, but was above analysts' consensus estimate of PLN 263.4 mln. In addition, MBANK's CEO Cezary Stypulkowski stated that the bank is unlikely to pay out dividend from its 2016 profit. Other largest outperformers were videogame developer CD PROJEKT (WSE: CDR), coking coal producer JSW (WSE: JSW) and footwear retailer CCC (WSE: CCC), gaining 2.75%, 1.86% and 1.85% respectively. On the other side of the ledger, media group CYFROWY POLSAT (WSE: CPS) and three gencos TAURON PE (WSE: TPE), ENERGA (WSE: ENG) and ENEA (WSE: ENA) were biggest decliners, tumbling by 1.96%-2.41%.