Stock Markets January 23, 2026

Polish Equities Retreat Amid Sectoral Declines, Led by Banking and Energy Losses

WIG30 Posts 1.19% Drop with Mixed Performance Among Constituents

By Hana Yamamoto CPS DNP PEO
Polish Equities Retreat Amid Sectoral Declines, Led by Banking and Energy Losses
CPS DNP PEO

The Warsaw Stock Exchange saw a downturn on Friday as the broad-based WIG30 index declined by 1.19%, driven by notable decreases in Banking, Oil & Gas, and Information Technology sectors. Despite the overall market retreat, select stocks such as KGHM Polska Miedz SA delivered strong gains, reaching record highs.

Key Points

  • WIG30 declined 1.19% with losses predominantly in Banking, Oil & Gas, and Information Technology sectors.
  • KGHM Polska Miedz SA reached a record high, rising 4.72%, while Dino Polska SA and Bank Polska Kasa Opieki SA posted notable declines.
  • Crude oil and Brent oil prices increased significantly, alongside stronger precious metal prices, impacting energy and commodity-linked stocks.

On Friday, shares on the Warsaw Stock Exchange closed lower with the WIG30 index falling by 1.19%, reflecting widespread retreat among key sectors including Banking, Oil & Gas, and Information Technology.

Among the session's leading performers, KGHM Polska Miedz SA (WA:KGH) registered a substantial advance of 4.72%, or 14.80 points, finishing at 328.30 and marking a new all-time high for the company. Complementing KGHM's strong performance, Jastrzebska Spotka Weglowa SA (WA:JSW) climbed 3.72%, or 0.96 points, closing at 26.75, while Cyfrowy Polsat SA (WA:CPS) rose by 0.94%, or 0.13 points, ending the day at 13.38.

On the other hand, the most pronounced declines included Dino Polska SA (WA:DNP), which fell by 4.12%, or 1.66 points, settling at 38.59. Bank Polska Kasa Opieki SA (WA:PEO) retreated 3.25%, or 7.00 points, to 208.50, and LPP SA (WA:LPPP) decreased 3.22%, or 655.00 points, finishing at 19,675.00.

The session saw a greater number of declining stocks compared to those advancing, with 303 falling, 234 rising, and 106 remaining unchanged on the Warsaw Stock Exchange.

Crude oil prices were robust, with March delivery contracts rising 2.80%, or $1.66, to $61.02 per barrel. Brent oil slated for March saw a 2.72% gain, adding $1.74 to reach $65.80 per barrel. Additionally, February Gold Futures advanced by 1.45%, or $71.16, trading at $4,984.56 per troy ounce.

Currency movements showed the euro strengthening against the zloty by 0.28%, reaching 4.21 EUR/PLN, and the US dollar gaining 0.18% to 3.58 USD/PLN. Meanwhile, the US Dollar Index Futures declined 0.32%, settling at 97.86.

Risks

  • Negative momentum in key sectors like Banking and Oil & Gas could suggest vulnerability to broader economic or commodity price fluctuations, impacting market stability.
  • Significant decline in stocks such as Dino Polska SA and Bank Polska Kasa Opieki SA indicates possible sector-specific pressures or company-level challenges.
  • Volatility in currency exchange rates, including EUR/PLN and USD/PLN shifts, may affect multinational companies and investors’ risk exposures.

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