The reminder by Andrzej Domański about the work carried out at the Ministry of Finance on the tax that the banks would pay, threw a shadow on Friday's trade on the WSE. The supply also got additional fuel from external markets.
As a result of Thursday sessions at the Warsaw WIG20 stock exchange, it lost 1.58 percent, and throughout the shorter week the decline was 2.4 percent. It is worth emphasizing that the Blue Chip index was found this week at the new Hossa summit, which has been going on since 2022, which has not been seen in the article “such a bull market on the WSE for years”
In turn, the WIG wide market index lost 1.28 percent at the Friday session, to 109 366.66 points, and in the whole week he gave 1.4 percent. However, MWIG40 lost 0.7 percent on Friday up to 7,991.43 points, when it fell by 1.52 percent in the whole week. SWIG80 reduced by 0.04 percent at the session and gained 0.16 percent In the whole week, which ended at 29,367.43 points. The turnover on Thursday amounted to PLN 1.67 billion, of which companies from WIG20 were responsible for over PLN 1.44 billion.
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Andrzej Domański announced on Wednesday on Polsat News that work is currently underway on the budget for 2026, and asked if the project includes any formula of taxes on bank profits indicated that it assumes the imposition of an additional amount of tax on the banking sector. He did not clarify whether it was about the tax on interest on the mandatory reserve or a new idea mentioned in June.
The market was unclear as an impulse for selling and implementing considerable profits. Let us remind you that the day before the WIG-Banki index beat the historic peak. On Thursday after the start of the session, the decreases exceeded 2.2 percent. Bankier Konrad Ryczko answered the banker in the “At noon” program about whether Andrzej Domański can become the Hossy Hossy gravedigger on the WSE.
Even before noon, the situation at banks began to improve, and the index did some of the losses. In the meantime, the CSO gave a full report on July inflation in Poland, and Eurostat data on GDP for the second quarter in the EU. However, another wave of sales came in the second part of the session. At 14.30, producers' inflation was published in the USA, which surprised very negatively. In terms of month, PPI inflation jumped by 0.9 percent. with a forecast at 0.2 percent It was the largest monthly increase since June 2022 showing that although consumer inflation is kept in check, prices are rising, and for now the companies bear a significant part of the costs of the new US customs policy.
First, contracts on the term market, and then indexes on the Wall Street cash market began to lose. The dollar strengthened (over 0.8 percent to the zloty) and the conviction of the timely market as to the Fed cuts in September, although it still estimates this chance above 92 percent.
The tax slap of the minister, given the banking peace of the great financial reports (today BOŚ), and the grain of uncertainty sown in global investors, a negative surprise in the US, caused a strong response to indexes. WIG20 lost 2.3 percent around, and WIG-Banki increased the discount to 2.8 percent.
It is worth recalling, however, that in both Poland and the US she came at the tops of the bull market and with a high appetite at risk, confirmed by the bitcoin price record set the day before. In addition, you need to add a calendar layout and a day without a session on the WSE on Friday, when the Trump – Putin – Putin meeting in Alaska (21.30 Polish time) is also to take place, which could also force the exposure to the Polish market. For the bull market counting, it was definitely an opportunity to shop, although there may be a lack of defense of 3000 points. on WIG20 this week. A bit of optimism could have been given to demand at the end of the session and make up a few points on the Blue Chip index.
The portfolio of the largest companies was dominated by red, which were covered with courses of 19 companies. Only the frog course (0.83 percent) finished in the plus. Banks like Pekao (-3.35 percent), Santander (-3.21 percent) dominated on a scale of falls. WIG-Banki gave 2.11 percent The largest decreases in WIG20 at the discounting prices of copper and silver (-15 percent) also affected the KGHM exchange rate (-3.8 percent). Over 3 percent He also lost the CD project.
The BOŚ Bank exchange rate (11.07 percent) after the publication of snares for the second quarter stood out from the wide market and compared to other companies from the banking sector. You can see the example of published bank reports that the sector is able to cope with the annual burden of potential tax on interest on a mandatory reserve of up to PLN 2 billion per year. Therefore, it is difficult to see in the fundamental tax reason more strongly discounts, or rather only an impulse for the implementation of some of recently developed profits.
Toya also showed good results, in which it showed an increase in profits in the first half of the year by 35 percent. rdr. The pressure of the environment, however, probably won and the exchange rate dropped by 2.39 percent. A similar story concerned Quercus, whose profits increased by 36 percent. yard, and the exchange rate dropped by 2.07 percent They also reacted to the results and the loss also investing in Agora (-4.3 percent).
