The day’s headline was the United Arab Emirates’ decision to exit the OPEC group, officially justified by market changes related to the war in Iran (in reality, there were internal tensions in the cartel limiting the UAE’s production capacity). This change could trigger further supply disruptions in the oil market. Today’s focus will be on the Federal Reserve, which will decide on interest rates.
>> Also read: Dollar fell 20 cents. Iran appeals to the USA
The market expects rates to stay unchanged (i.e., in the 3.50‑3.75% range), so the key will be the Fed Chair’s later remarks, which may provide guidance on the future path of rates.
Today’s meeting is unique because it could be Jerome Powell’s last as Fed Chair – his term ends in May, but Kevin Warsh’s nomination has not yet been confirmed by Congress. Other quarterly financial reports may also influence the market.
Results will be released today by Alphabet, Microsoft, Amazon, Meta Platforms, AbbVie, AstraZeneca, Qualcomm, GSK, and Ford, and on the domestic exchange by Kruk and Orlen (annual report for 2025).
Company events
ALIOR ZWZA regarding, among other things, profit distribution for the 2025 fiscal year.
APATOR Publication of the individual and consolidated report for 2025.
BIOTON Publication of the individual and consolidated report for 2025.
CAPTORTX Listing of 800,000 common shares on the Warsaw Stock Exchange for series Y.
CIGAMES Publication of the individual and consolidated report for 2025.
CYFRPLSAT Publication of the individual and consolidated report for 2025.
ENTER Publication of the individual and consolidated report for 2025.
EUROCASH Publication of the individual and consolidated report for 2025.
GRUPAAZOTY Publication of the individual and consolidated report for 2025.
KRUK Publication of the consolidated report for Q1 2026.
MABION After the session, the company will drop from the sWIG80 index.
MENNICA Publication of the extended consolidated report for Q1 2026.
WAWEL Publication of the Q1 2026 report.
XTB Earnings conference – preliminary data for Q1 2026.
Company announcements
AZOTY The Azoty Group and selected other companies from the Azoty Capital Group signed agreements with 13 financing institutions, under which they agreed to waive certain financing terms for the Azoty Group.
BOŚ Bank Ochrony Środowiska (BOŚ) signed a financing agreement for the Residence Aleja Fontann project, carried out by Capital Park Group in Szczecin. The transaction value is 61 million PLN.
CYFROWY POLSAT Cyfrowy Polsat had Q4 adjusted EBITDA of 718.3 million PLN and revenue of 3.7716 billion PLN. PAP Business consensus expected 704.7 million PLN EBITDA and 3.735 billion PLN revenue.
DECORA The board recommends paying 42.1 million PLN from 2025 earnings as a dividend, and 32.9 million PLN for the company’s reserve capital.
ENERGA The Energa Group recorded 1.24 billion PLN net profit attributable to the parent in 2025, up from 376 million PLN a year earlier. Group EBITDA was 3.6 billion PLN, a 5% year‑on‑year increase.
JSW JSW Group estimates a consolidated net loss of 6.2549 billion PLN and an EBITDA loss of 4.9887 billion PLN in 2025. Estimates show revenue of 9.4081 billion PLN and gross sales of 2.2129 billion PLN.
MABION Mabion had an EBITDA loss of 50.5 million PLN and a net loss of 62.6 million PLN in 2025, compared to an EBITDA profit of 1.5 million PLN and a net loss of 6.3 million PLN in 2024.
MBANK Updated MREL requirement for mBank at a consolidated level, excluding mBank Hipoteczny, is 15.36% of total risk exposure (TREA).
MEDICALGOTIRHMICS Medicalgorithmics will fulfill another order from a Canadian client worth 0.5 million USD. The additional order increases the company’s contract value from 5.9 million USD to 6.4 million USD.
MILLENIUM The net profit of Bank Millennium’s group in Q1 2026 rose to 300.8 million PLN from 179.3 million PLN a year earlier. The profit was 11.4% above analysts’ expectations, who forecast 270.1 million PLN.
MLP GROUP MLP Group plans the MLP Business Park Munich project covering about 42.8 k m², its debut in southern Germany. Construction is slated to start at the end of 2026.
ORLEN Orlen signed an agreement with Zasada Group, expanding cooperation to comprehensive fleet servicing for passenger and freight vehicles across Poland.
PKO BP PKO Bank Polski’s board completed the subscription of senior non‑preferred notes with a total nominal value of 700 million euros.
PLAYWAY PlayWay will record consolidation adjustments totaling nearly 44.9 million PLN in its 2025 financial statements.
XTB XTB estimates net profit in Q1 2026 at 535 million PLN versus 193.9 million PLN a year earlier. PAP Business consensus expected 498 million PLN net profit.
ŻABKA
1. Zabka Group recorded 674 million PLN adjusted EBITDA in Q1 2026, up from 596 million PLN a year earlier. Analysts expected 641.2 million PLN adjusted EBITDA.
2. Zabka Group increased end‑customer sales by 12% year‑on‑year to 7.4 billion PLN in Q1 2026, with comparable sales up 3.2%, and net loss fell to 51 million PLN from 77 million PLN a year earlier.
3. Zabka’s Board adopted a resolution to update the share‑buyback program to meet long‑term incentive commitments for 2025‑2027. The company increased the maximum purchase amount from 130 million PLN to 273 million PLN.
Technical analysis signals
MABION A black candle on rising volume sets the price for new lows in the ongoing correction, signaling its continuation. The next trough is at 7.32 PLN.
PEPCO Shares tested long‑term resistance at 33.4 PLN on higher volume, indicating further buying pressure at that level.
VOTUM The stock price tests (on higher volume) dual long‑term resistance near 49.7 PLN, which may signal further attempts to break through.
ASSECOSEE A white candle on sharply rising volume looks like the start of a bullish impulse.
ELEKTROTI A white candle on rising volume breaks medium‑term resistance at 55.8 PLN, setting the price for new historical highs.
