Polish stocks slip after close presidential election results (updated)

Powszechna Kasa Oszczednosci Bank Polski SA

19/05/2025 09:10

Adds analyst comment, updates the results, stock moves

May 19 (Reuters) - Polish equities slipped on Monday after Rafal Trzaskowski from the ruling centrist Civic Coalition (KO) took a narrower than expected lead in the presidential election.

Trzaskowski placed first with 31.36% of the vote, ahead of Karol Nawrocki, the candidate backed by the nationalist Law and Justice (PiS) party, who had 29.54%, according to the electoral commission. The gap was much narrower than the 4-7 percentage points seen in opinion polls before the vote.

Poland's blue-chip index .WIG20 was down around 1.2% at 0752 GMT, with shares in lenders Pekao PEO.WA, PKO BP PKO.WA and Santander BP SPL1.WA leading losses.

Trzaskowski and Nawrocki will compete in a second round on June 1.

"A large advantage in the first round for the right-wing opposition may require the absolute mobilisation of Rafal Trzaskowski's electorate in the second round," Erste Group analyst Jakub Szkopek said.

Szkopek added that the results of the presidential election serve as a warning to Donald Tusk's government, highlighting a noticeable increase in opposition support within the polls.

Konrad Ryczko, BOS Bank analyst and a broker, said, however that the market move was not big and likely also affected by a wider sentiment, with weaker China data.

The Polish benchmark was up 28% so far this year as of Friday's close.

 (Reporting by Anna Pruchnicka and Julia Kotowska
Editing by Ros Russell)

 ((anna.pruchnicka@thomsonreuters.com; +48 58 769 65 14;))