Stock Markets August 18, 2026 11:35 AM

Warsaw market edges lower as materials and media weights push WIG30 down 0.78%

KGHM posts the largest decline while Jastrzebska Spotka Weglowa leads gains; commodity and FX moves accompany the session

By Derek Hwang
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Polish equities closed lower on Tuesday, with the headline WIG30 index slipping 0.78% as losses in Basic Materials, Chemicals and Media pressured the market. KGHM Polska Miedz SA was the biggest decliner, while Jastrzebska Spotka Weglowa SA, Dino Polska SA and MODIVO SA finished among the session leaders. Market breadth favoured losers, and commodity and currency moves accompanied the decline.

Warsaw market edges lower as materials and media weights push WIG30 down 0.78%
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Key Points

  • WIG30 closed down 0.78% as losses in Basic Materials, Chemicals and Media weighed on the market.
  • Top WIG30 gainers were WA:JSW (+2.59%), WA:DNP (+2.49%) and WA:MDVP (+1.74%); largest decliners were WA:KGH (-3.10%), WA:ENAE (-2.01%) and WA:MILP (-1.77%).
  • Market breadth was negative with 326 decliners, 200 advancers and 118 unchanged; commodity moves included higher crude and Brent and lower December gold futures, while EUR/PLN and USD/PLN both rose.

Poland's stock market finished Tuesday in the red, with the benchmark WIG30 shedding 0.78% at the close in Warsaw as sectoral weakness in Basic Materials, Chemicals and Media pulled the index lower.

Among constituents, Jastrzebska Spotka Weglowa SA (WA:JSW) delivered the strongest performance on the WIG30, rising 2.59% or 0.71 points to close at 28.11. Dino Polska SA (WA:DNP) gained 2.49% or 0.79 points, ending the session at 32.47, while MODIVO SA (WA:MDVP) added 1.74% or 1.58 points to finish at 92.50.

On the downside, KGHM Polska Miedz SA (WA:KGH) registered the largest fall among WIG30 names, dropping 3.10% or 10.70 points to close at 334.50. Enea SA (WA:ENAE) declined 2.01% or 0.40 points to 19.50, and Bank Millennium SA (WA:MILP) lost 1.77% or 0.38 points to settle at 21.12.

Market breadth in Warsaw showed a predominance of decliners, with 326 stocks down compared with 200 advancers and 118 remaining unchanged.

Commodity prices moved during the session. Crude oil for October delivery rose 1.48% or 1.24 to $84.98 a barrel. Brent oil for October delivery climbed 1.23% or 1.12 to $91.99 a barrel. By contrast, the December Gold Futures contract fell 1.31% or 58.60 to trade at $4,415.10 a troy ounce.

Currency pairs involving the zloty also moved higher on the day. EUR/PLN was up 0.39% at 4.33, and USD/PLN rose 0.37% to 3.74. The US Dollar Index Futures was unchanged at 99.53.


Key session data at a glance:

  • WIG30 -0.78% at close
  • Top gainers: WA:JSW +2.59%, WA:DNP +2.49%, WA:MDVP +1.74%
  • Top laggards: WA:KGH -3.10%, WA:ENAE -2.01%, WA:MILP -1.77%
  • Market breadth: 326 declining, 200 advancing, 118 unchanged
  • Commodities: Crude Oct +1.48% to $84.98, Brent Oct +1.23% to $91.99, Gold Dec -1.31% to $4,415.10/oz
  • FX: EUR/PLN +0.39% to 4.33, USD/PLN +0.37% to 3.74

The session mixed selective stock gains with broad selling across the exchange. The largest single-stock moves both higher and lower are noted above, and commodity and currency developments accompanied the equity flows into the close.

Risks

  • Sector concentration risk - losses in Basic Materials, Chemicals and Media contributed materially to the WIG30 decline, indicating sector-specific volatility that can affect index performance.
  • Commodity price volatility - moves in crude oil, Brent and gold during the session may increase earnings and valuation uncertainty for companies sensitive to commodity prices, particularly in materials and energy-related sectors.
  • Currency fluctuations - appreciation of EUR/PLN and USD/PLN could affect firms with significant foreign currency exposure, influencing revenues and costs for exporters and importers.

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