Stock exchange debut without a single transaction and continued rebound on the WSE. Banks and the copper giant are the growth leaders
Wednesday's session on the Warsaw Stock Exchange was marked by a continuation of the rebound. Investors are optimistic about the signals regarding the possible de-escalation of tension between the US and Iran, which resulted in dynamic growth on the stock markets. Banks and KGHM stood out in WIG20, and Asseco, Polimex and JSW stood out on the broader market. A new company debuted on NewConnect, but investors did not conclude a single transaction.
WIG20, increased by 1.86%continuing the good streak from the beginning of the week. The broader market also did not lag behind – WIG gained 1.73%and the mid-cap index mWIG40 increased by 1.34%. He finished most modestly, although still in the green sWIG80 with an increase of 0.99%. Investors were very active, which was confirmed by the high turnover, which was estimated at PLN 2.46 billion on the broad market, of which PLN 1.98 billion concerned WIG20 companies.
The mood was even better on global markets. In Europe, German DAX gained as much as 2.95%French CAC 40 grew by over 2%and British FTSE 100 by 1.7%. There was also greenery across the ocean: The S&P 500 and Dow Jones rose about 1% eachand technological Nasdaq Composite rose 1.5%.
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“Share indices on most markets are recording clear increases, triggered by President Donald Trump's comments yesterday about the impending end of the war in Iran. It is no different on the domestic stock exchange – the main Warsaw indices are taking advantage of the good moods and continue the increases that started on Monday. The Polish stock exchange is supported by global risk-on, and the high activity of foreign capital is confirmed by high turnover” – he commented for PAP Biznes Arkadiusz Banaś, analysis expert in the Analysis and Consulting Team of Alior Bank.
“The impulse to improve the mood was the hope for the de-escalation of the US-Iran conflict after the statements of Donald Trump, who suggested that military actions could end within two to three weeks. At the same time, the message from the White House remains ambiguous, and Reuters emphasizes that markets react primarily to the prospect of calming the situation, not to a confirmed agreement,” noted TMS Oanda Brokers analysts.
KGHM is making up for losses, the banking sector is resistant to NBP data
It was the leader among the largest companies KGHM (7.35%). The copper giant became the main beneficiary of the improved sentiment, making up for a large part of the losses from recent weeks, when the price fell by almost 20% as a result of the conflict in the Middle East. Interestingly, the increases took place with relatively flat prices for raw materials such as copper (0.3%) and silver (0.8%).
The banking sector did very well, ignoring weaker NBP data about a 25% y/y decline in the sector's net profit in the first two months of 2026. He was the growth leader mBank (6.44%)and also recorded solid growth Alior (3.93%), Santander Bank Polska (2.92%),
Pekao (2.8%) and PKO BP (2.95%).
The energy sector continued to grow Tauron (0.83%)supported by the management board's declarations of willingness to pay recurring dividends. PGE (1.19%)
grew despite the reported net loss (resulting primarily from write-offs), as the market focused on solid recurring EBITDA (PLN 12.89 billion). She continued her positive series Enea (2.11%)rising for the sixth consecutive session.
It was a red point on the WIG20 map Orlen (-2.83%). The price reduction occurred after the information about the takeover of full control over the Polimery Police project from Grupa Azoty and the need to provide financing of PLN 1.35 billion. Alone Grupa Azoty fell by 2.86%which analysts attribute to the correction after the previous 20% increases and the announcements of restructuring.
“In the case of Orlen, the decline may have a multi-factorial nature – falling oil prices put pressure on margins, the government announces that the company will be burdened with an additional tax on excess profits, and the company itself announced the conclusion of a preliminary agreement for the purchase of Grupa Azoty Polyolefins shares and the provision of capital to repay the entity's liabilities,” said Arkadiusz Banaś.
Asseco's record dividend and Polimex's nuclear plans
It was a real star on the broad market Asseco Poland (5.37%). Investors rushed to buy shares after the announcement of a record dividend of PLN 13.05 per share and information about the order portfolio increasing by several percent y/y. For comparison, the dividend for 2024 amounted to PLN 3.94 per share.
It also shined in the mWIG40 index Polimex Mostostal (7.3%)which announced cooperation in the construction of small modular reactors (SMR) using the BWRX-300 technology. However, the mood in stocks was terrible JSW (-7.14%). The company disappointed the market by lowering its coal production forecasts for 2026 to 13.3 million tons.
Kombinat Konopny debuted on the NewConnect market and became a symbol of the success of Polish crowdfunding before its collapse. However, trading did not start throughout the day due to the huge advantage of buy orders at any price (PKC). The theoretical opening price was PLN 1.45 at times, which meant a potential increase of 1,350%.
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