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Investing.com -- Polish equities experienced a decline on Monday following the victory of nationalist opposition candidate Karol Nawrocki in the country’s presidential election.
According to the electoral commission’s data, Nawrocki secured the presidency with 50.89% of the vote during the second round, which took place on June 1. He defeated Rafal Trzaskowski, the liberal mayor of Warsaw and an ally of the government led by Donald Tusk, who received 49.11% of the vote.
The WIG20, Poland’s blue-chip index, was down 1.2% at 0840 GMT on Monday. Market analysts have suggested that Nawrocki’s win could lead to increased market uncertainty as he is anticipated to continue the policies of his predecessor, who was also an ally of the largest opposition party.
The benchmark index, which was up 26.5% YTD as of the close on Friday, lost 1.2% in the session following the first round of the election, where Trzaskowski had a narrower than expected lead. Since the first round, the index has decreased by approximately 0.9%.
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