2025-10-16 17:30
publication
2025-10-16 17:30
Thursday's session on the Warsaw Stock Exchange began with a massacre on CCC shares. A foreign analytical company accused the Polish company of accounting manipulation and took a short position on its shares. However, the management's explanations had to reassure investors somewhat, as the quotations made up for most of the losses. WIG20 ended trading below the mark, including: due to the decline in shares of the largest banks.
For most of Thursday's session, the main WSE indices were slightly negative, but the declines deepened in the last hour of the session. WIG20 ended trading losing 0.48%, WIG retreated by 0.47% and MWIG40 fell by 0.64%. SWIG80 resisted the negative sentiment and gained 0.14%.
At the end of trading on the Warsaw Stock Exchange, positive sentiment prevailed on the core markets. DAX gained 0.18% and CAC40 strengthened by over 1%. The S&P500 and Nasdaq rose 0.43% and 0.80%, respectively.
The turnover on the Warsaw Stock Exchange reached less than PLN 2 billion on Wednesday, of which PLN 1.75 billion was generated by trading in shares of companies from the WIG20 index. The leaders in terms of turnover were CCC (PLN 555 million in turnover), PKO BP (PLN 213 million) and KGHM (PLN 177 million).
Accusations against CCC and the company's response
The highlight of the day on the WSE was undoubtedly the announcement of a short on CCC shares by the analytical company NINGI Research, which was accompanied by the publication of a report with accusations of accounting manipulation. The most serious allegation was that a WIG20 player was selling unwanted inventory to an insolvent franchisee, MKRI, which is secretly controlled by the company. According to NINGI, CCC's results were to be overstated by PLN 330 million.
Shortly after the report was published, CCC prices fell by almost 15%. In response to the allegations, the company issued a statement calling them “pure manipulation.” “This is a typical situation of highly coordinated actions supporting the short positions of aggressive speculative investors who have open short positions in CCC shares, which may be closed at this moment,” CCC said. The explanations apparently calmed investors down, as the scale of the decline in the company's shares visibly decreased. CCC ended Thursday's session losing 5.26%.
The second most depreciated company in the blue chip index on Thursday was Santander, whose shares lost 2.61%. Other WIG20 banks also did not perform well. Alior's shares lost 1.41%, mBank's shares dropped by 1.06%, PKO BP and Pekao withdrew by 0.79% and 0.16%, respectively.
On the other side of the market, Pepco shares gained 3.60%. The company's shares may have benefited from the information from October 15. As stated in the announcement, Pepco will close 28 stores in Germany by the end of January 2026, which will cut off the unprofitable branch of the business.
PGE shares went up by 1.52%. The company signed a preliminary agreement to purchase 50% of the shares of PGE PAK Energia Jądrowa from ZE PAK of the Solorz family. “Polska Grupa Energetyczna is taking full control over the company examining potential locations of nuclear power plants, which constitutes the most competent and strongest substantive base for conducting this type of analyzes and research,” announced Dariusz Marzec, president of PGE.
Among medium-sized companies, Thursday's session belonged to Bank Handlowy, whose quotations gained 4.29%, erasing Wednesday's decline. Newag shares increased by 2.15%. The top three strongest quotations in MWIG40 were closed by Vercom, with an increase of 1.78%.
Captor Therapeutics shares gained the most in the SWIG80 index on Thursday, increasing by 6.84%. Right behind them were the shares of ZE PAK with an increase of 6.54%, the reasons for which can be found in the previously mentioned agreement with PGE.
Bioceltix went up by 4.33%. The company announced after the end of Wednesday's session that its shareholders received information about the closure of ABB operated by mBank and Trigon DM. Instead of the expected 577,785 shares, 727,785 shares of the company were sold at a price of PLN 87 per share.
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