News Parkiet

Equity market

WIG20 on highest level since September 2000

Investors trading on the Warsaw Stock Exchange remain bullish. The blue-chip index WIG20 surged yesterday to 1869 pts and had a highest value since September 2000. WIG, a broad market benchmark, posted a record of 25 206 pts. High turnover rates and increases in shares? value of the biggest Polish companies indicate there are significant amounts of capital flowing into the market. Analysts and brokers suggest there are capital inflows from foreign investment funds, which are adjusting their portfolios to reflect Poland?s accession to the EU. On May 1st Poland will advance to the group of developed markets from the group of emerging markets, they say.

Macroeconomics

NBP miscalculated trade figures

National Bank of Poland, the Polish central bank, made an error calculating the trade balance figure. In January Poland had a surplus of 191 mln euros, while previously the bank reported the country had a deficit of 83 mln euros. The error wasn?t connected to the change of a way the trade data is calculated, which took place starting this year, in order to adapt to EU standards, bank said. It explained the data from commercial banks who are covering international transactions came late.

National Investment Funds

Dwory?s CEO defends his company

In the recent days Oświęcim-based Gamma Capital acquired almost 10 percent stake in Foksal National Investment Fund, which is a primary investor in Dwory, a chemical company. The 45-percent stake is Foksal?s biggest asset. Gamma Capital currently holds nearly 15 percent of the fund?s shares. The company is chaired by Zdzisław Ingielewicz, who is simultaneously a CEO of Dwory. - Gamma invested in Foksal to prevent a possible takeover of Dwory - he said.

IT

Wirtualna Polska put up for sale

Wojciech Reguła, a special commissioner appointed to govern Wirtualna Polska, a bankrupt operator of the second largest Polish internet portal, expects to sell the company in a couple of months. - I would like to sell WP as a whole, since it?s the only way the company may operate in the future - he said. - However, nobody has asked about that - added Reguła, who has been running the company for just one day. The web portal operator was declared insolvent by a Gdansk bankruptcy court on Friday.