The correction on KGHM and Orlen is accelerating, and trading on the Warsaw Stock Exchange is slowing down. BlackRock reduced its short on XTB
The stock market in Warsaw coped with the pressure from the rising dollar and turned green on all major indices. For increases on WIG20, which returned above 3,000 points. banks were mainly responsible. However, the correction in the shares of the stars of recent weeks, i.e. Orlen and KGHM, is accelerating. The lowest turnover in months was terrifying. The rebound after the earnings-related sell-off was interrupted by the XTB price, in whose shares BlackRock reduced its official short position.
Monday's trading on European markets was sluggish. Small increases prevailed, but when the session in Warsaw ended, the indexes from London and Paris were slightly lower. The DAX grew significantly, gaining about 0.8%. The session on Wall Street started on an upward trend, and after the weekend time change in America, it started traditionally at 15.30.
Enthusiasm was sparked by another large deal in the AI industry, this time between Amazon and OpenAI, which is diversifying its infrastructure and power suppliers as a step towards preparing the best possible offer before the company goes public. However, the upward opening in the US quickly encountered resistance from sellers and indices such as the S&p500 and Nasdaq were closer to the neutral level at 5 p.m. Russell 2000 and Dow Jones lost.
Although the WSE managed to maintain the gains from the beginning of the session on the main indices, in most cases the end of trading was lower than its beginning. This was the case on WIG20, which gained 0.61%. to 3005.61 points, but before noon it was at 3022 points. Inevitably, it was similar with WIG, which gained 0.51%. and mWIG40, ending the day by 0.24%. higher. Trading on sWIG80 was completely different. Final of the session after an increase of 0.53%. came out at daily highs.
The turnover on the broad market was very low and amounted to only PLN 1.15 billion. This is the lowest result since February 4 this year. In WIG20, the turnover did not exceed PLN 1 billion, which was the first time since July 7.
In the portfolio of large companies, there is a predominance of growth (14 companies) led by banks. The shares of mBank gained the most (3.39%). Other large lenders were also above the mark: Santander (1.9%), Alior (1.65%), PKO (1.43%) and Pekao (0.87%).
After a weak October (-16%), the CCC rate started strong in November (3.21%). Over 2 percent Kruk (2.53%) and Orange (2.53%) shares gained further, and in turn over 1%. also shares of Budimex (1.47%), PZU (1.32%) and Kęty (1.18%).
The correction on the WIG20 workhorses in October, i.e. shares of KGHM and Orlen, is accelerating. Already at the end of last week, after a wave of strong increases, demand was running out of breath, but on Monday the declines accelerated even further. The KGHM stock gave back 1.6%, after falling by 0.04%. on Friday and 1.62 percent on Thursday. Orlen's price fell by 0.97%. after a decline of 0.54 percent on Friday. The group of falling companies in WIG20 was complemented by Allegro, PGE, Pepco and Żabka, of which the Allgero price lost the most (-0.64%).
On the broad market, after two days of rebound in response to quarterly results, declines returned in XTB shares (-1.84%). According to the update of the register of official short positions kept by the Polish Financial Supervision Authority published on Monday BlackRock reduced the official short on XTB shares from 0.61%. up to 0.55 percent net shares.
By the way, new information from the register shows that Qube Research & Technologies increased its position in Kruk shares (from 0.6 to 0.71%).
Although Columbus Energy showed weak results for the third quarter of 2025 on Thursday, the company's shares gained 9.41% on Monday. Last week, the company also presented solutions that will eliminate all electricity fees, including distribution fees.
In turn, Digital Network shares gained 5.99%. after the company announced before the weekend that it would take over 90 percent. shares in Braughman Group Media Outdoor for approximately PLN 130 million, which has been called the largest transaction in the outdoor advertising segment.
Michal Kubicki
