On Friday, on the Warsaw Stock Exchange, we once again saw the stock indices retreat to their starting point, erasing the gains from the entire week. For most of the session, the decline in WIG20 was led by KGHM, which presented quarterly results. However, only the twenty largest companies listed on the Warsaw Stock Exchange escaped the decline.
The second week of November on the WSE ended exactly like the first. The indices returned to the starting point, zeroing the gains, and WIG20 again retreated below the threshold of 3,000 points. The situation was not changed by the positive October inflation reading.
From the very beginning of Friday's session, the Warsaw Stock Exchange indices showed a clear advantage of supply. WIG20 ended trading with a loss of 0.86% and ended trading at 2,990 points. WIG retreated by 0.75%, MWIG40 fell by 0.47% and SWIG80 fell by 0.61%.
The Polish stock exchange performed worse on Friday than the core markets. At 17:10 the Nasdaq was gaining 0.18%, the S&P500 was losing 0.08% and the DAX was falling by 0.70%.
The turnover on the Warsaw Stock Exchange amounted to a modest PLN 1.36 billion, of which PLN 1.13 billion was allocated to shares of companies from the WIG20 index. The leaders in terms of turnover were KGHM (PLN 167 million), Żabka (PLN 138 million) and PKO BP (PLN 133 million).
Results of KGHM and Inter Cars
The shares of Dino (-2.57%) and Kęty (-2.36%) lost the most in the WSE blue chip index on Friday. The banking sector also performed poorly. Pekao shares were depreciated by 1.70%. PKO BP shares lost 1.44%. The shares of Santander and Alior fell by 1.22% and 1.06%, respectively, and the shares of mBank lost 0.47%.
KGHM shares lost 0.76%. After the end of Thursday's session, the company presented its results for the third quarter. The mining giant's adjusted EBITDA amounted to PLN 2.34 billion, i.e. 1.8% more than the PAP consensus. The company's consolidated net profit reached PLN 433 million in the third quarter, compared to PLN 240 million profit a year ago. The balance of cash and cash equivalents decreased (from PLN 1.11 billion a year ago to PLN 411 million at the end of September).
Four companies from the WIG20 index ended the session in positive territory, i.e. Żabka (+1.25%), CCC (+1.09%), Budimex (+1.01%) and Orlen (+0.23%).
Among the companies from the MWIG40 index, the most outstanding was Inter Cars, whose shares increased by 1.86%. The car parts distributor presented results for the third quarter that exceeded analysts' expectations. The company's net profit reached PLN 237.8 million, growing by 15% year on year. Revenues increased by 10% to PLN 5.4 billion.
The results were also presented by Jastrzębska Spółka Węglowa, whose shares lost 0.97% on Friday. JSW's net loss reached PLN 793.7 million in the third quarter. Sales amounted to PLN 2.295 billion. According to the company's management board, the situation does not look good, and the coking coal price forecasts for the next two years are also not optimistic.
Also after the results were presented, AmRest shares fell by 5.56%. The company's net profit was 15.2 million euros turned out to be 25% lower than the consensus and 42% lower than last year. AmRest also recorded a decline in margin.
In the SWIG80 index, investors' attention focused on Friday on VRG shares, which rose by 5%. The company presented positive quarterly results (net profit of PLN 12.4 million – 20% more than the PAP consensus) and announced that in 2026 it intends to achieve sustainable profitability of the clothing segment.
MM
