Keep going down in small steps. This is how you can describe the recent sessions on the WSE, especially worrying ones on WIG20, which is groaning under the weight of declining banks. On Monday, the Polish blue chip index recorded the worst series of session declines in over two years.
The beginning of the week saw a continuation of the negative trend. WIG20, fell by 0.79%. and recorded its sixth consecutive declining session. The last time such a situation occurred was at the turn of 2023 and 2024. Broad WIG decreased by 0.66%. Medium-sized companies fared slightly better – mWIG40 fell by 0.4 percent, while the relatively smallest loss was recorded by sWIG80, which lost 0.04 percent. Market turnover remained at an average level and amounted to PLN 1.75 billion on WIG and PLN 1.42 billion on WIG20.
Oil scares the markets. Deadlock between the US and Iran
In Europe, the mood was similar: the German DAX lost 0.3%, the French CAC 40 fell by 0.4%, while the British FTSE 100 fell by 0.6%. Overseas, American indices were slightly below the mark. The S&P 500 and Dow Jones each lost 0.2%, and the technological Nasdaq fell by 0.3%.
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The geopolitical situation remains the key factor shaping investor sentiment. Global markets have entered a slowdown phase after previous increases, and all eyes are on the Middle East. The impasse in the peace talks, despite Pakistan's mediation, is starting to worry the markets, with the continued blocking of the strategic Strait of Hormuz. On Monday, the price of Brent crude oil rose to approximately USD 102 per barrel, gaining over 3%.
Blue chips in retreat. Modivo and KGHM under pressure
However, in the WIG20 portfolio, the company only managed to achieve growth greater than 1%. The leader in growth was Pepco (2.76%), which continues to rebound from the March low. Alior (0.96%) and Allegro (0.55%), as well as CD Projekt, PKO, LPP and Dino also recorded increases, although their price increases did not exceed 0.5%.
Alior stood out against the background of the 0.51% discounted price. WIG-Banks. The company reported its results and despite the decline in net profit in the first quarter of 2026 to PLN 403.2 million, the result was 5.5 percent lower. better than analysts' expectations, which reassured shareholders.
On the other side of the barricade was Modivo, whose shares dropped by as much as 6.16%. Budimex also lost significantly (-2.36%), which was related to the information provided by Katarzyna Kapczyńska from “Puls Biznesu” that the National Appeals Chamber ordered PSE to reject Budimex's offers in tenders worth PLN 340 million for the construction of power lines.
In turn, the depreciation of KGHM (-1.92%) is the result of the depreciation of silver and copper. Investors were not convinced by the recommendation of the copper giant's management board to pay a dividend of only PLN 1.5 per share, which means there is a chance (the consent of the General Meeting is required) for the company to return to sharing profits after a year of break.
Revaluation of Polimex and the quantum company
Things were interesting in the segment of smaller companies. Polimex Mostostal stood out negatively in the mWIG40 index (-6.76%), with a very high turnover (PLN 22.6 million), despite a positive recommendation from Trigon DM. The valuation of Polimex shares was increased to PLN 11.5 from PLN 8.50 previously, maintaining the “buy” recommendation for them. DM Trigon analysts believe that the company may be the largest beneficiary of local content.
The largest drop on the WSE was recorded by Creotech Quantum (-11.27%), a debutant on the main market from mid-April, whose shares gained over 110% after entering the market within a few days. Since the peak, the price has already fallen by 34%. Let's also mention PCF Group, whose price gained 11%. The company announced that it is taking over the Cooldown Games studio and its publishing rights. For this purpose, PCF Group will issue 4.11 million new shares.
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