Trump's peace plan and biforks on the WSE. Excellent mood in Poland and Russia before the main event
Stock markets on Wednesday, November 19, were dominated by gains after several weak sessions. The wave of optimism did not spare the Warsaw Stock Exchange, where WIG and WIG20, along with the indices of the Moscow Stock Exchange, recorded the strongest increases in Europe. In the background there were reports about Donald Trump's next peace plan. After four days of declines, Wall Street indexes were also rising, waiting for the highlight of the evening, which are Nvidia's results.
The moment for a rebound is quite ambiguous. On the one hand, Wall Street has already had four days of declines in a row, and at the same time the WIG20 dropped from its peak, which can now be described as a double peak, so even a correction of the recent weakness seems naturally justified. On the other hand, strong growth ahead of the most important earnings report of the season, which, in the opinion of some observers, if it fails, could be the cornerstone of the end of the AI bull market, is quite a bold move.
Everything will be explained in Nvidia's report, which the company will publish after the end of the US session, i.e. a few minutes after 10 p.m. Polish time. Before this happens, the Fed will publish the minutes of the October meeting at 8 p.m. In any case, investors were willing to take risks on Wednesday, although it should be noted that gold – a traditional safe haven – also gained. Indices in Europe gained moderately, around 0.5%. (DAX, CAC40). On Wall Street, the Nasdaq gained 1% and the S&P500 rose by 0.5%.
Trump has a new plan for peace?
The Polish stock market was dominated by sentiment transferred from the core markets and considerable interest in the markets in Poland and Russia. 3% were interested. increases in the indexes of the Moscow Stock Exchange. Enthusiasm was supposed to be aroused by the information that Donald Trump had prepared a confidential peace project aimed at ending the ongoing conflict between Russia and Ukraine.
American news site Axios, citing unnamed U.S. and Russian officials, reported that the 28-point proposal is partly modeled on the recent 20-point ceasefire plan in the Gaza Strip. How many times has the same card been played about another chance for peace? Apparently this deck hasn't seen enough wear and tear yet and investors still think it's worth playing.
The project will focus on four key areas: peace in Ukraine, security guarantees, the broader European security architecture and the future of U.S. relations with Kiev and Moscow. However, it is still unclear how the plan addresses key issues such as territorial control over eastern Ukraine.
WSE session on November 19
As a result, the session on the WSE ended with an increase in WIG20 of 1.85%, after the strongest session since October 28. The index of Polish blue chips, next to the Russian ones, was the strongest in Europe on Wednesday. WIG increased by 1.65%. In turn, mWIG40 gained 1.36 percent, and sWIG80 went up by 0.59 percent. The turnover on the broad market reached PLN 1.76 billion, of which PLN 1.49 billion concerned WIG20 companies.
Foreign investors certainly did not miss the statement of the Minister of Finance and Economy, Andrzej Domański, who said in an interview for Bankier.pl that “there is no room in the budget for further social programs.” In the context of Polish assets, it is worth noting that the euro and the zloty tested the level of PLN 4.2250 for the second time this week, i.e. the lower limit of the long sideways trend.
With the inflow of foreign capital, which was betting on a new chance for peace, the increases in WIG20 were broad and concerned the prices of 18 companies. The shares of Żabka (3.39%) and Dino (3.72%) gained the most, but also of banks such as Pekao (3.22%) and Alior (3.25%). By 3.44 percent KGHM's stock prices increased with an increase of 0.75%. copper prices, which were not affected by the announcement about the planned return to operation of the second largest copper mine in the world at the beginning of the second quarter of next year.
Over 3 percent Budimex's price was still on the WIG20 counter. Over 2 percent Santander (2.91%) and PKO (2.5%) gained. The share prices of CD Projekt (-0.26%) and Allegro (-0.7%) were below the line among the largest companies.
The prices of energy companies rebounded only slightly compared to the strong sell-off the previous day. PGE gained 0.44 percent. Tauron went up by 1.7%. In turn, Enea, although positive for most of the session, ended up below the mark at the end of the day (-0.1%).
On Wednesday, the strongest industry index was WIG Media, which gained 5.44 percent, mainly due to the increase in the price of Wirtualna Polska by 8.65 percent. in response to the company's great results for the third quarter.
In turn, Grupa Azoty (0.55%) estimates the net loss for the third quarter of 2025 at PLN 150 million, which is a worse result than the market consensus.
In the context of playing for the truce between Russia and Ukraine and the success of Trump's next plan, WIG-Ukraine gained 2.58%. As usual, in terms of speculation, the price that stood out the most was Coal Energy (8.16%), which is perceived as a Ukrainian company and no longer has any assets in Ukraine.
