publication
2025-12-11 17:10
It was the fourth consecutive upward session on the Warsaw Stock Exchange. As a result, WIG and WIG20 reached near the autumn peaks of the bull market. The market's attention was focused on the shares of PKP Cargo, which saw a sensational turnaround in its shares (and price).
After a rather gloomy morning, WIG20 started climbing and at the end of the day it reached 3,062 points, increasing by 1.34%. It was the fourth session in a row that ended in the green. In this way, WIG20 was close to the peaks of the bull market in November (3,066.72 points) and October (3,060.11 points).
WIG increased by 0.97% and finished with a score of 113,456.50 points. with a turnover of PLN 1.86 billion, of which PLN 1.53 billion was on WIG20 securities. WIG was less than half a percent behind the all-time autumn records (114,107.71 points).
Medium and smaller companies performed worse. mWIG40 lost 0.16%, and sWIG80 increased only by 0.44%. This would suggest that foreign capital was primarily behind today's increases. This was also visible in the behavior of the currency market, where the euro rate fell to close to PLN 4.22, and the dollar was below PLN 3.60 for the first time since September. It is also worth adding that declines prevailed on the broad market. The prices of half of the securities on the main market went down, and just over every third one ended the day in positive territory.
The gains on the WSE were accompanied by good sentiment on other European stock exchanges. The German DAX was gaining almost 0.8%, the French CAC40 was growing by 0.9% and the Madrid IBEX by over 0.9%. The attitude of trading floors from the Old Continent contrasted with the declines on Wall Street. There, stock prices rose on Wednesday after the Federal Reserve cut interest rates in line with expectations. Moreover, the Fed de facto announced the resumption of QE, announcing a plan to purchase Treasury bills for USD 40 billion per month.
Among Polish blue chips, the shares of KGHM continued to attract attention, after an increase of 1.5%, they set a new record closing price. Over the previous three months, the copper combine's prices increased by 82%. The shares of LPP and CD Projekt gained over 3%. Banks performed well, with the sector index increasing by 1.1%. Among the 20 largest companies, Budimex, CCC, Kęty and Dino ended the day in decline.
But the most emotional issue was probably the issue of trading in shares by the (former) vice-chairman of the supervisory board of PKP Cargo. At the beginning of Wednesday's session, Marcin Wojewódka sold a large stake in the company he supervised, which resulted in an over 10% decline in their quotations. During the day, Dr. Wojewódka bought back these securities, but ESPI's announcement about these transactions appeared only after the end of the session. This operation looked like an attempt at tax optimization (i.e. reducing Belka's tax), but the Polish Financial Supervision Authority may also treat it as an attempt to manipulate the exchange rate. PKP Cargo's quotations increased by 8.2% on Thursday, erasing Wednesday's losses.
On the opposite side of the market were the shares of Eurocash, which were depreciated by almost 7% and whose price deepened the almost 20-year low. This looks like a not very favorable reaction of investors to the company's strategy for 2026-27 announced two days ago.
In turn, Cyber_Folks' prices increased by over 14%. The company announced the signing of an agreement to acquire PrestaShop, one of the world's largest open-source e-commerce platforms. However, without any new news in the ESPI channel, the ASM Group price increased by 14.6%.
