The WIG broad market index exceeded the level of 130,000 for the first time in history. points, fueled by euphoria in the financial sector. This time, the brake was Orlen's price, and although the fuel giant was clearly lagging behind the rest of the pack, the bulls did not let the victory be snatched away from them in this extremely volatile week.
In the last session of the week WIG20 increased by 1.25%continuing the strong upward trend and ending the week at the highs of a several-year bull market (3,596.84 points). Already the path to the historic peak seems open, and from now on the level an increase of less than 10% is needed to overcome it.
At the new peak (131,325.14 points), previously set on Wednesday, it is WIG, which gained 1.3%. It allowed him to cross the barrier for the first time in history 130,000 points, which was also noticed by the Minister of Finance and Economy, Andrzej Domański, in his post on social media.
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Smaller entities also performed very well. Mid-cap index mWIG40 gained 1.58%while the representative of the “little ones”, sWIG80, increased by 0.25%. The scale of weekly increases is impressive, WIG20 gained 3.5% in five dayswhile WIG is higher by 3.2% and mWIG40 by 2.8%, sWIG80 has gained less than 1%.
The world is waiting for Saturday talks
The mood on the Vistula was correlated with optimism on the core markets. Investors received the data with relief CPI inflation in the USAwhich was in March 3.3% y/ywhich was perfectly in line with the market consensus. Especially since the annual dynamics of “core prices” accelerated only slightly, growing from 2.5% to 2.6%. In Europe, the index DAX gained 0.4%French CAC40 grew by 0.3%and British FTSE100 by 0.1%. There's also greenery across the ocean – Nasdaq rose 0.7%a S&P 500 gained 0.2%.
The key geopolitical topic is the US-Iran talks scheduled for Saturday in Islamabad. Hope for a de-escalation of tension in the Strait of Hormuz was fueled by statements by representatives of the American administration. It was indicated that Saturday's talks between the US and Iran could be constructive.
Additionally, National Economic Council Director Kevin Hassett announced that Washington has contingency plans for reopening the Strait of Hormuz. It seems that investors paid less attention to Donald Trump's posts. In his own style, the president wrote on the Truth Social platform: “WORLD'S MOST POWERFUL RESET!!!” (original spelling). However, the markets, accustomed to this rhetoric, ignored these ambiguous signals, focusing on the real chances for an agreement.
Banking rally to the top and clothing rebound
The undisputed leader of Friday's quotations was the financial sector. Sub-index WIG-Banki increased by 3.43%reaching record levels 22,893 points It was a day of “historic highs” for many top players: mBank (3.68%), PKO BP (3.81%), Santander Bank Polska (2.97%), ING Bank Śląski (5.03%), BNP Paribas (3.58%),
and Millennium (3,755).
The WIG20 index also shined Modivawhose course increased by 4.16% down PLN 91.08which should be treated as a rebound after Thursday's periodic lows around PLN 84. It did just as well LPP (3.53%)which pushed the WIG-Odzież industry index up by 3.39.
He is also regaining his form KGHM (3.30%)whose shares are already priced PLN 313.20. Allegro continues to gain (2.59%) and costs PLN 27.70 per share. Yesterday, the share price was below PLN 26. A shareholder of the company once again sold Allegro's stake in ABB. The sale price of 65 million shares was set at PLN 25.6 per share.
Orlen under pressure, dark clouds over coal
It was the biggest burden for WIG20 and the broader market Orlenwhose shares they lost 5.46%falling to the level PLN 128.58. Investors reacted to the high volatility of oil prices and the government's declarations about working on a tax on excess profits, maximum prices and maintaining a reduced excise tax on fuels. “Currently, the situation in the Middle East is too volatile for the government to decide to withdraw from the 'Fuel Prices Lower' program,” said Minister Andrzej Domański.
In turn, Minister of Energy Miłosz Motyka stated that the increase in gas prices as a result of the conflict in the Middle East and damage to the local infrastructure may also translate into tariff prices on the Polish market in the coming months.
The mood was disastrous in the mining sector. Bogdanka lost as much as 8.92% to PLN 28.60a JSW fell by 8.20% to level PLN 28.55. The JSW discount could have been, among other things, as a result of a downgraded recommendation by an Erste Group analyst. Jakub Szkopek changed his attitude towards the company from “buy” to “hold”, valuing its shares at PLN 31.5.
The broad market is worth the growth Games Operators (12.15%)where the management board recommended the payment of PLN 1.1 dividend per share. Shareholders also have reasons to be satisfied Creotech Instruments (6.02%)which successfully completed another milestone in the “Camila” space project.
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