2025-12-02 17:10
publication
2025-12-02 17:10
Two large blocks of shares of WIG20 companies hit the market, which resulted in Tuesday's decline on the Warsaw Stock Exchange. The evacuation of large foreign investors is not only a “sucking” of cash from our market, but also a negative signal for domestic market participants.
As usual, its main shareholders, i.e. Cidinan and Permira funds, decided to divest themselves of Allegro's shares, throwing 65 million securities on the market at a price of PLN 30.10. And as usual, the price set within ABB was significantly lower than current market quotations. As a result, the Allegro price dropped by 3.1% and approached the multi-month low at the end of November.
The second sleeper was Banco Santander, which sold a 3.5% stake in its Polish subsidiary to investors under the ABB procedure (the same as Allegro). As a result, the price of Santander Bank Polska dropped by 5.8%. It is known that the Spaniards will continue to pour in shares of the former BZWBK, because after the planned sale of approximately 49% of the shares to Erste Group Bank, they will still have an almost 10% stake. It will probably also be launched on the market by ABB.
Although both transactions cannot be considered surprising, they clearly worsened the sentiment on the Warsaw trading floor. Firstly, it is about the sheer weight of both companies in the WIG20 portfolio. The Santander depreciation alone cost us 27 index points, i.e. 2/3 of Tuesday's decline in WIG20. Secondly, investors remembered that the specter of supply from the same entities that will “suck” cash from large institutional investors (because they are buyers within ABB) still hangs over the market.
In addition, investors sold shares of this year's bull market leaders – energy companies controlled by politicians. The price of PGE fell by 4.65%, Enea by 2.3% and Tauron by 1.3%. Today, WIG-Energy returned 2.5% and was the weakest sector index of the WSE.
In such circumstances, it is hardly surprising that WIG20 fell by 1.33% and ended Tuesday's session at 2,967.35 points. Since July, our blue chip index has not been able to permanently break the level of 3,000 points. First, the government hit the banking sector by introducing a tax surcharge, then, thanks to the president, the energy sector was hit (proposal to normalize the amount of the distribution fee), and now there has been supply within ABB from foreign investors.
The clearly increased turnover is also worth noting. WIG recorded a decline of 1.16% with a turnover of PLN 2.3 billion, of which over PLN 2 billion was attributable to WIG20 companies. More than half of the securities on the main market ended the day in decline, and every third share turned green. 14 issuers reached at least annual lows. Additionally, mWIG40 lost almost 1%, while sWIG80 lost 0.6%.
All this took place in favorable moods on the so-called core markets. The German DAX and the Madrid IBEX35 gained approximately 0.5% each with a neutral attitude of the stock exchanges in London and Paris. The session on Wall Street started with solid gains, with the Nasdaq gaining 1%.
DataWalk securities stood out positively in a falling market, rising in price by over 13%. The Wrocław-based company benefited from the disclosure of a “buy” recommendation from DM BOŚ analysts, who valued its shares at PLN 120. Shareholders of Bumech were in a different mood, with its stock price dropping by 11.8% after the information about spending PLN 1.8 million on shares of Capital Partners in liquidation. As a result, Bumech was valued at the lowest level since August.
In turn, the price of PKP Cargo dropped by almost 10% after the publication of the results for the third quarter. The railway company recorded a net profit of PLN 7.5 million, which apparently did not satisfy investors. The PKP Cargo share price reached its lowest level since April.
K.K
