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The Warsaw Voice » Business » December 16, 2009
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Stock market bullish
December 16, 2009 By Andrzej Ratajczyk   
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As the country's economic performance is improving, so are the capital and currency markets. In the first 11 months of the year, the Warsaw Stock Exchange's WIG broad-market index gained almost 45 percent, while the WIG20 blue-chip index rose by 32 percent.

The WSE stands out against other European exchanges also in other respects. A recent report by the Federation of European Securities Exchanges (FESE) puts the WSE in first place in terms of capitalization and equity market turnover in Central and Eastern Europe. At the end of October, the overall capitalization of Polish companies listed on the WSE was 86 billion euros and turnover in January-October came to 33 billion euros. The CEE Stock Exchange Group, which comprises bourses in Vienna, Ljubljana, Prague and Budapest, ranked second in the region in terms of capitalization and equity market turnover.

In October, the WSE's capitalization increased by 1.3 percent month on month, while the capitalization of the CEE Stock Exchange Group fell by 5.1 percent.

The WSE has also consistently ranked high on the European IPO market. According to Pricewaterhouse Coopers' IPO Watch Europe report, from January to the end of September, the WSE was in second place in Europe after Euronext in terms of the number of IPOs and in third place after London and Luxembourg in terms of IPO value. Between January and the beginning of December, 11 new companies were listed on the WSE's main trading floor and 20 other companies entered its NewConnect alternative market.

Thanks to some recent debuts, the WSE further strengthened its position as a regional leader in terms of capitalization and equity market turnover. In November, a zl.5.13-billion Bank PKO BP rights issue hit the trading floor and almost 60,000 individual investors and a large number of institutional investors snapped up shares in energy group PGE whose zl.6-billion initial public offering marked the largest IPO in Europe this year.
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