Polish stock market hits 11-year high
PR dla Zagranicy
Grzegorz Siwicki
23.01.2018 12:52
The Polish stock market is in its best shape in almost 11 years on the back of favourable developments at home and abroad, reports show.
Photo: geralt/pixabay.com/CC0 Creative Commons
The Warsaw Stock Exchange's indices are scaling new heights, with its all-share WIG index exceeding 67,773 points on Tuesday, its highest reading since July 7, 2007.
By 9:30 a.m. on Tuesday, the WIG had climbed even higher, hitting a record of 67,933.05 points, marking a gain of 6.4 percent since the beginning of this year and an impressive 6,500-percent rise since the index was first published on April 16, 1991.
Global equity index provider FTSE Russell last year reclassified Poland as a developed market starting this September, an upgrade from emerging market status.
The decision means Poland “has joined the 25 most developed economies of the world,” including Germany, France, Japan, Australia and the United States, the Warsaw Stock Exchange said in a press release in late September last year.
The World Bank earlier this month upgraded Poland's 2018 GDP growth forecast to 4 percent from a previous projection of 3.6 percent.
The bank noted that unemployment in Poland was at a record low and that rising wages were fuelling consumption.
(gs)
Source: businessinsider.com.pl