Warsaw Stock Exchange scales new heights

On Tuesday, the Warsaw Stock Exchange’s WIG20 blue-chip index hit an 18-month high, outperforming key markets in Western Europe, according to a Reuters news agency report.

According to Poland’s PAP agency, the WIG20 on Tuesday posted the strongest gain of all major stock market indices in Europe; it rose 2.54 percent to close at 2,248.52 points, its highest level since August 2015.

Listed banks and fuel companies in Warsaw have seen their share prices soar recently, with five blue chips soaring more than 3 percent on Tuesday, according to PAP.

The agency also said that the WSE’s all-share WIG index rose 2.08 percent to close at 59,331.91 points and the bourse’s mWIG40 medium-sized company index gained 1.73 percent to hit 4,883.48 points on Tuesday.

According to Polish tabloid Fakt, the WSE’s WIG and mWIG40 indices are the highest since the start of the global financial crisis in 2007, and the Polish stock market as a whole is in its best shape in nine years.

This is due to a combination of external and internal factors including a renewed global interest in emerging markets, a return of inflation in Poland, and positive sentiment amid the Polish government’s withdrawal from a number of policies that could have negatively affected the market, according to Fakt. (str/pk)

Source: PAP, Reuters, Fakt