Strong Finish to the Week in Warsaw as WIG20 Hits Record High

Investors moved more confidently into buying before the weekend, pushing Warsaw’s WIG20 index to a historic high of 4,090 points. The index gained nearly 1.4% by the end of Friday’s session.

Buyers also dominated other European stock markets, although their gains were smaller than in Warsaw. Investors continued to favor riskier assets, partly because fears of a U.S. interest-rate increase in September had eased. Fresh U.S. labor-market data, however, made the outlook more complicated.

Nearly every stock in the WIG20 rose except CD Projekt, Kruk and Pepco. Modivo led the gains, climbing more than 3% after returning to favor following a correction. Budimex overtook it by the close.

KGHM shares extended Thursday’s rebound, supported by copper prices near their historic highs. Orlen and bank stocks also remained popular, with PKO BP and Pekao reaching new records. Dino gained for another session as it continued a recent rebound from a multiyear low.

Smaller companies delivered mixed results. PGF Polska Grupa Fotowoltaiczna and Niewiadów posted the strongest gains, while Krakchemia and Mirbud declined. Developments in the Middle East remained in the background as the United States and Iran continued exchanging strikes, while oil prices stabilized despite tensions in the Persian Gulf.