4:52 18 December 2025
Trigon sees WIG peak
Trigon Dom Maklerski expects the WIG index to reach a new record of around 130,000 points in 2026, despite a roughly 40% rise in 2025. The brokerage argues that the rally is supported by fundamentals: a growing economy, falling interest rates and low valuations, with the Polish market trading at an average P/E of about 10. Excluding banks affected by higher CIT, listed companies should see improving profits.
Deputy head of analysis Maciej Marcinowski notes early signs of domestic capital returning to the Warsaw Stock Exchange, as inflows to Polish equity funds exceeded redemptions in October and November. However, Trigon is skeptical that proposed personal investment accounts (OKI) will deliver the PLN 5bn in annual inflows forecast by the government, pointing to Sweden as evidence that savings structures tend to mirror existing investment habits.
For 2026, Trigon recommends 26 companies: 23 from the WSE and three foreign firms from Germany, Sweden and Turkey. The picks reflect both preferred sectors—such as consumer discretionary, defense, construction, banks and biotechnology—and specific company fundamentals, even in otherwise underweighted industries like airlines.
