Stock exchange in holiday mode. The final succession at Polsat, the dispute at PZU and trade unionists against Dino

The Tuesday session before Christmas was marked by low turnover, accompanied by declines in the main WSE indices. In Luxembourg, the succession at Cyfrowy Polsat was decided, the dismissed president of PZU appealed to the minister of state assets, and Dino's employees sent a notification to the prosecutor's office.

On Tuesday, December 23, the Warsaw Stock Exchange was already in holiday mode, as evidenced by low turnover, the value of which was estimated at approximately PLN 1.36 billion. Trading in shares of companies from the WIG20 index was responsible for nearly PLN 970 million of this amount. The standouts were PKO BP (PLN 130 million), KGHM (PLN 115 million) and CCC (PLN 103 million).

The WIG20 index ended the session retreating by 0.57%, to 3,155 points. WIG moved away from Monday's closing by 0.36%, ending trading at 115,911.92 points. Indices of medium and small companies performed better on Tuesday. MWIG40 gained 0.09% and SWIG80 increased by 0.28%

The original Bankier.pl Index of Fear and Greed gained a value of -10.2 points, meaning neutral sentiment. The indicator takes into account 6 different components, focusing not only on data from the WSE, but also on the treasury bond market and the activity of Bankier.pl readers.

Pepco and KGHM lead growth in WIG20

Pepco led the growth in the WIG20 index for the second time in a row, with its shares increasing in price by 0.61%. KGHM securities gained 0.51%, repeating the records on the metals market. Silver prices broke above $70 per ounce for the first time in history on Tuesday, and copper broke above $12,000 per tonne.

The largest companies that resisted declines also included Dino (+0.39%) and mBank (+0.19%), and PGE ended the session at the reference point. According to trade unionists, the prosecutor's office received a request that Dino's management may have committed a crime.

“To date, Dino Polska has not provided the trade union with the documents necessary to conduct trade union activities, including the work regulations for which we have requested many times. This is an illegal action. What is Dino trying to hide?” – the OPZZ Confederation of Labor organization said in a statement on Tuesday.

15 out of 20 companies were below the line in the blue chip index. At the end of the scale were CD Projekt (-2.32%) and LPP (-1.94%). Allegro (-1.08%) and Orlen (-1.03%) also lost more than 1%. The fuel giant informed PAP Biznes that it bought 4.5 million Energa shares at an average price of PLN 18.86 per share. The response to Orlen's invitation was not great – it was accepted by holders of 2.3 million shares, constituting approximately 0.55% of the capital of the acquired company. Energy shares gained 5.93% on Tuesday.

PZU shares lost 0.59. The company's General Meeting of Shareholders was scheduled for Tuesday, December 23, and the agenda included voting on authorizing the management board to pursue claims against former president Beata Kozłowska-Chyła. The interested party is defending itself against the accusations and has written to the Minister of State Assets, Wojciech Balczun, demanding a change to the agenda.

The final succession at Cyfrowy Polsat

More events took place during Tuesday's session in the second line of listed companies than among the largest ones. The court in Liechtenstein issued a final and binding judgment on the succession in the Solorz family, dismissing the appeal filed by Zygmunt Solorz. The verdict of May 2025 was upheld, and therefore control over the Cyfrowy Polsat group was effectively taken over by the billionaire's children. Cyfrowy Polsat's quotations gained 10.42% on Tuesday and accounted for over 1/4 of the turnover value in the entire MWIG40 index (PLN 70 million out of PLN 270 million).

Among medium-sized companies, the shares of Text (+2.79%), Eurocash (+2.44%) and Vercom (+2.25%) also stood out. On the other side of the market there were Grupa Pracuj (-4.28%), BNP Paribas Bank Polska (-2.96%) and Dom Development (-2.84%).

MM

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