“Will this event end the bull market for nearly three years on the Warsaw court? In our opinion, no, although in a short time cooling moods would not be unusual. The government's relations with the president and high budget needs may temporarily have a negative impact on the sentiment of investors. Historical statistics of the rate of return also do not speak in favor of bulls. In the last ten years, the WIG index has completed September with a positive growth rate. However, in an average and long -term perspective, we still remain optimistic to Polish actions, “he added.
The managing TFI treasury believes that The Polish economy is systematically one of the best developing in Europe, and the funds from KPO are an additional support for it, an increase in defense expenditure and falling interest rates. This translates into good perspectives for many sectors and companies, which with still relatively reasonably reasonable valuations of listed entities speaks for maintaining exposure to the Polish stock market.
Throughout Friday, until the end of the session, the WIG20 index gained (temporarily even by 1 %, to 2858 points), which was the fourth day in a row. However, after 15.00 growth rate began to weaken (perhaps in response to weak data from the American labor market, indexes to Wall Street also went down, and the dollar was losing). Around 16.30, the Polish Blue Chips index reduced by 0.7 percent, to 2809 points.
The WIG20 index ended with a 5.3 percent inheritance Taking into account the weakening of the zloty towards the dollar, this result was -2.7 percent. In USD, which was placed in WIG20 in 88 place among 92 main indexes in the world, according to Bloomberg. In terms of the beginning of the year, the WIG20 return rate reached 43.93 percent. in dollars (27.45 percent in PLN), which gave the Polish Blue Chips eleventh position in the world. In the monthly statement, better results were achieved by companies with small and medium capitalization. The mWIG40 index dropped by 2.6 percent In turn, swig80, grouping the smallest entities, remained unchanged.
“August 2025 on the Warsaw Stock Exchange was a period of significant volatility. Until August 21, stock market bulls ruled on the court, continuing the index increases lasting 8 months and bringing the WIG index to subsequent historical levels (112 thousand points, +41 percent YTD). The results for the second quarter of 2025 and raising of forecasts by analysts achieved subsequent peaks.
In the assessment of the TFI treasury, for investigators on the WSE of the WSE of the month, the announcement by the Ministry of Finance, after the end of the Thursday session (August 21, 2025), plans to increase CIT for the banking sector. From that moment WIG-Banki lost about 13 percent. On Friday afternoon, the index fell by 2 percent.
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“In addition, the government announced other tax increases, including: ZUS contribution to entrepreneurs from PLN 1773 to PLN 1975 per month, excise duty for alcohol and tobacco by 15 %, sugar fee from 50 groszy to 70 groszy per liter of drink (up to PLN 1 at caffeine), tax on winnings from 10 % to 15 %, property tax up to PLN 1.25/sq. RTV subscription and higher energy bills (lack of extension of energy vouchers) ” – he added.
