Stock Markets April 10, 2026 11:35 AM

Warsaw Benchmark Climbs to Record as Banking and Materials Stocks Lead Gains

WIG30 rises 1.36% to a new all-time high while miners and oil majors lag

By Ajmal Hussain
Warsaw Benchmark Climbs to Record as Banking and Materials Stocks Lead Gains

The WIG30 index closed higher, advancing 1.36% to reach a fresh record high as strength in banking, basic materials and construction shares supported the market. While several large lenders hit all-time highs, select miners and energy companies posted notable declines. Trading breadth favored advancers over decliners.

Key Points

  • WIG30 closed up 1.36% and established a new all-time high.
  • Banking and basic materials sectors provided the strongest support, with PKO and Bank Millennium reaching record levels.
  • Energy and mining stocks underperformed, with JSW and PKN among the largest decliners.

Poland's main equity benchmark finished the session higher on Friday, driven by gains among banks, basic materials and construction stocks. The WIG30 index rose 1.36% to close at a new all-time high.

The session's top performers within the WIG30 included MODIVO SA (WA:MDVP), which climbed 4.16% - up 3.64 points to end at 91.08. Powszechna Kasa Oszczednosci Bank Polski SA (WA:PKO) added 3.81% - a 3.64-point increase to finish at 99.25, and Bank Millennium SA (WA:MILP) advanced 3.75%, gaining 0.70 points to close at 19.25.

On the downside, Jastrzebska Spotka Weglowa SA (WA:JSW) was the weakest name in the WIG30, sliding 8.20% or 2.55 points to end at 28.55. Polski Koncern Naftowy ORLEN SA (WA:PKN) fell 5.46%, losing 7.42 points to close at 128.58, while Orange Polska SA (WA:OPL) declined 1.92% or 0.28 points to 14.31.

Market breadth on the Warsaw Stock Exchange favored advancing issues, with 300 stocks higher compared with 243 that fell; a further 93 shares finished unchanged.

Notably, shares of Powszechna Kasa Oszczednosci Bank Polski SA (WA:PKO) and Bank Millennium SA (WA:MILP) reached all-time highs during the session, with PKO rising 3.81% or 3.64 points to 99.25 and Bank Millennium increasing 3.75% or 0.70 points to 19.25.


Commodity markets reflected mixed moves. Crude oil for May delivery rose 1.27%, gaining $1.24 to $99.11 a barrel. Brent oil for June delivery was up 1.07%, or $1.03, to $96.95 a barrel. In contrast, the June Gold Futures contract fell 0.40%, a decline of $19.38, to trade at $4,798.62 a troy ounce.

Currency pairs involving the zloty showed limited movement. EUR/PLN was reported unchanged 0.12% to 4.25, while USD/PLN eased 0.16% to 3.62. The US Dollar Index Futures declined 0.16% to 98.43.

Overall, Friday's trading session in Warsaw was marked by a concentration of strength in financials and materials that helped the WIG30 reach a new record, while energy and select industrial names posted losses.

Risks

  • Concentration risk - market gains were driven by a handful of sectors (banking, basic materials and construction), leaving other sectors exposed to downside if those groups reverse.
  • Commodity price volatility - rises in crude and Brent oil contrast with a fall in gold, which could affect energy and materials companies differently.
  • Sector-specific downside - heavy losses in selected miners and oil majors highlight the potential for sharp sectoral swings that could drag on indices despite overall gains.

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