15:58 21 September 2026
Polish stock indexes amongst strongest in the world
Polish stocks remain cheaper than Western European and emerging Asian peers despite a strong rally. The WIG20 rose 22% in dollar terms this year after gaining 66% in 2025. Adjusted for sector composition, Polish companies trade at just under 17 times expected earnings, versus slightly above 17 in Western Europe and over 22 in emerging Asia. Valuation gaps have narrowed considerably in technology, IT services, and retail, but industrial companies still trade at substantial discounts.
Inflation, rising interest rates, and geopolitical tensions cloud the outlook. Longer term, defense and energy investment, greater protection from Chinese competition, and pressure to improve productivity could help Polish manufacturers strengthen their market positions and valuations.
(pb.pl)
