Other European benchmarks performed well too, including the DAX, which gained 1.15%. Meanwhile, the series of gains on Wall Street was maintained. On Friday, the main benchmarks finished the day in green and rose over the entire week. For the S&P 500, this marks the eighth consecutive week of gains.
Iran Agreement "Negotiated"
Over the weekend, U.S. President Donald Trump announced that the agreement with Iran had been largely negotiated, and that the final details are currently under discussion.
He said the agreement would be announced soon and that it would lead to the opening of the Strait of Hormuz. As a result, this morning oil prices are clearly falling.
This translates into optimism in the equity market: during the Asian session, Japan’s Nikkei rises more than 3%.
Positive should also be the opening of trade in Europe. Information from the Middle East will not be priced by investors on the U.S. and UK exchanges due to a holiday. Today’s macroeconomic calendar includes, among other things, the release of retail sales data by the GUS, which may prove slightly weaker than in March.
Market consensus assumes a slowdown (in constant prices) to 4.2% YoY from 9.8% recorded in March. In the afternoon, data on the money supply in Poland will also be released. Tuesday’s macro data calendar will be relatively empty, though it is worth noting the planned release of the Conference Board Consumer Confidence Index in May in the U.S. Wednesday will not bring any significant data.
Dollar Rate – Forecast for the Coming Days
Meanwhile, on Thursday, market attention will shift again across the ocean, where PCE inflation data for April and a revision of GDP for Q1 of the current year will be published. The first measure will be especially crucial for markets. Already in March, PCE inflation accelerated sharply, exceeding 3% YoY.
If the trend holds, it could strengthen expectations of U.S. interest rate hikes and thus support the dollar.
The week will end with preliminary inflation estimates for May in many European countries. Among the countries releasing their estimates is also Poland, which already feels the effects of the Middle East conflict and maintains a price level of 3.2%.
WIG20 and mWIG40
Cyfrowy Polsat Fitch Ratings confirmed the long‑term rating IDR of Cyfrowy Polsat at "BB". The rating outlook is stable. "The rating confirmation reflects the company’s stable operations in the telecommunications, media and technology (TMT) sector in Poland, which generates most of its EBITDA. Polsat’s approach, based on an asset‑light model and technology neutrality in connectivity and convergent services, allows the company to benefit from the growing availability of fiber from wholesale suppliers. This enables the maintenance of free cash flow (FCF), albeit at the cost of lower margins due to higher wholesale access costs," the statement read.
Grupa Azoty The group estimates that in Q1 2026 it achieved consolidated revenues of PLN 3.7 bn and an EBITDA of PLN 317 m. Analysts surveyed by PAP Biznes expected PLN 3.92 bn in revenue and PLN 187 m EBITDA. "Q1 2026 confirms the gradual rebuilding of Azoty Group’s operating profitability, despite the still challenging market environment. Positive factors included lower year‑over‑year natural gas prices, improved conditions in the agro segment where sales volumes rose 4% YoY, and consistent execution of efficiency measures," said Marcin Celejewski, Group CEO.
JSW Financing of severance payments Minister of State Assets Wojciech Balczun announced on Friday that an agreement was signed to finance one‑time cash severance for employees of Jastrzębskiej Spółki Węglowej (JSW). He added that about PLN 500 m will be allocated for this purpose.
MirbudThe most favorable offer from the consortium that includes Mirbud was selected as the best in the PKP PLK tender for works on railway line 8. The offer value is PLN 496.4 m gross.
NeucaNeuca maintains expectations of an annual wholesale pharmacy market growth rate of 5‑6%. The company’s representatives informed that.
• "Looking at PEX data on retail market growth for April and mid‑May, we see growth dynamics of 8.7% and 9.1% respectively. PEX forecasts for the entire 2026 year assume a 7% growth in retail market value. IQVIA similarly forecasts an annual increase of over 7%," the company said during an investor chat.
SWIG80 and Others
AplisensConference The biggest challenge for Aplisens today is finding an alternative to sales in the Middle East. Despite market turbulence, the group would like to achieve the 2026 targets – the company’s representatives said during a video conference.
• "The EU markets are positive, the domestic market is not bad, and we view it with slight optimism. The WNP markets and … are weak, and in the coming quarters sales there may show deeper declines. The biggest uncertainty is the other markets," said CEO Adam Żurawski.
• "The Middle East will definitely suffer. How much we can make up for it in other markets – hard to say. We are most optimistic about Southeast Asia, the Indian market … The situation in the U.S. is slowly improving," he added.
ArlenDividend The board of Arlen recommends to the shareholders’ meeting a payment of about PLN 12.2 m in dividend from net profit for 2025, which amounts to PLN 0.55 per share. The remaining net profit of about PLN 23.4 m is proposed to be allocated to reserve capital.
Creotech QuantumThe completion of the Creotech Quantum issuance closed the Series D share offer, with a total of 350 k shares at an issue price of PLN 232.
Elektrotim The new Elektrotim contract is with Tauron Distribution for PLN 80.95 m net to rebuild the 110kV substation at the 400/110kV R‑3 Pasikurowice station.
GenomtecShare sale The Genomtec shareholder – 5HT Family Foundation sold 2 m shares in an accelerated book‑building process at PLN 5.5 per share.
Makarony PolskieDividend The board of Makarony Polskie wants the dividend per share from 2025 profits to be PLN 0.75. The board proposes the dividend record date to be July 15, with payment on July 30, 2026.
