A series of unfortunate events was managed by WIG20. WSE is weak against the background of the world

The sequence of seemingly unrelated events meant that WIG20 ended the day under the line and was on Tuesday the worst stock market index of Europe. This may suggest the beginning of a longer weakness of the Polish market after the phenomenal first months of 2025.

WIG20 ended a session of 2,718.17 points, which translated into a loss of 2.37%. However, in traction of the day, the scale of declines exceeded up to 3%. Indexes of medium and smaller companies were clearly better. mWIG40 gave 0.82%, and SWIG80 has grown by 0.17% and thus established a new peak of all time. WIG recorded a decrease by 1.24% at turnover of PLN 1.77 billion.

Let's return to the Blue Chip index, which was far the worst stock market benchmark of Europe today. For comparison, the German DAX reduced by 0.6%, although it was in Berlin that the political “crisis” occurred – the head of the CDU and the candidate for German Chancellor Friedrich Merz did not receive a vote of trust in the Bundestag. This means the extension of the “interregnum” period in the largest economy of Europe, in a deep crisis for several years. [edit: podczas drugiego głosowania już nie było falstartu – po godz. 17.00 Bundestag wybrał Friedricha Merza na kanclerza]. Other main exchanges of the Old Continent also ended under the line. A session at Wall Street began with moderate declines. However, these discounts were much smaller than listed at Książęca.

The WIG 20 records were negative technical impact. From the exchange rate of the second largest bank in Poland, PLN 18.36 dividend “dropped out”, which shareholders will receive on May 23. Only for this reason did the nominal course of the Pekao campaign found almost 10% below the Monday reference course.

In addition, the Pekao exchange rate corrected by dividend scored a 2.5%decrease. Actions of other large banks were also definitely cheaper. PKO BP's quotations have lowered by 2.2%, mBank by 2.7%, and Santander Polska by 2.6%. In the case of the latter, the risk of sales of 13% of the bank shares remaining in the hand of Banco Santander is involved as part of the construction of an accelerated demand book (ABB). Perhaps the funds sold out the shares of other banks to get cash for the purchase of Santadner's papers.

In addition, the decision of the Monetary Policy Council is put in the banking sector. Economists bet on the cut of interest rates by as much as 50 pb, which may negatively affect the sector's interest result. However, the stock exchange analysts say that Polish banks are well prepared for lower interest rates and should generate high profits for at least a few quarters. Despite this, WIG-Banki went down by 2.4%today.

It is worth paying attention to the fact that the discount of Polish blue chips was quite wide. Almost 3% lost the values ​​of the CD of the project and the Kęty Group, and LPP or JSW papers were discounted by nearly 2%. In this context, it is worth looking at the charts, where WIG20 suggested the implementation of the prospective formation of a double peak. Also at Wall Street could be seen manifestations of weakness, where the S & P500 index interrupted a series of nine growth sessions in a row. It is therefore possible that the Polish stock market after the phenomenal first four months of 2025 matured to a longer correction. The more that the stock market is favored by seasonality, in which the period from May to October statistically brings weaker rates of return.

KK

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