Three Seas Exchanges Index to be launched in Warsaw

Krynica, Poland (Economic forum, Public domain)

Merger of PKN Orlen and Lotos in the Q1'20

Polish economy will catch up with Germany's in 21 years

Poland

During the 29th Economic Forum in Krynica, Poland stock exchanges of the CSE region decided to create a new Three Seas Exchanges Index, the Warsaw Stock Exchange (WSE) informed.

The index portfolio will include more than 100 of the most liquid stocks of companies listed on exchanges in Bratislava, Bucharest, Budapest, Ljubljana, Prague, Warsaw and Zagreb. WSE will be responsible for the calculation and publication of the index.

“The launch of a joint exchange index is a major step towards closer regional co-operation, which opens the region to the world. The Three Seas Region could become the economic heart of Europe,” Polish PM Mateusz Morawiecki stressed.

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Poland

“Within the first three months of next year, PKN Orlen is to complete the acquisition of Lotos [the second biggest oil company in Poland],” PKN’s CEO Daniel Obajtek said at the 29th Economic Forum in Krynica. Poland’s biggest oil company PKN Orlen signaled that it could swap assets with competitors in order to ease EU regulators’ concerns about the merger.

Mr. Obajtek said the state-owned company plans to submit a paper to the European Commission this month offering steps it may take in order to convince Brussels to approve the merger.

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Poland

According to a report by the Warsaw School of Economics (SGH) if Poland maintains the economic growth rate it enjoyed in 1990-2018 it will catch up with Germany in 21 years’ time. SGH experts wrote that in terms of GDP per capita, Poland caught up with Greece in 2015 and is set to overtake Portugal by the end of this year.

It will take Poland 14 years to catch up with the average GDP per capita rate of the old EU member states, the report shows.

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What’s up in indexes

BET (of Bucharest) increased from 9272.51 index points Tuesday, September 3rd to 9273.49 index points Wednesday, September 4th. It’s up 0.29 per cent d/d and up 11.1 per cent y/y.

BUX (of Budapest) increased from 39405.00 index points Tuesday, September 3rd to 39573.00 index points Wednesday, September 4th. It’s up 0.88 per cent d/d and up 7.53 per cent y/y.

OMXR (of Riga) decreased from 1031.37 index points Tuesday, September 3rd to 1024.71 index points Wednesday, September 4th. It’s down 0.65 per cent d/d and up 6.40 per cent y/y.

OMXT (of Tallinn) decreased from 1240.03 index points Tuesday, September 3rd to 1224.71 index points Wednesday, September 4th. It’s down 0.40 per cent d/d and up 0.78 per cent y/y.

OMXV (of Vilnius) decreased from 690.29 index points Tuesday, September 3rd to 687.63 index points Wednesday, September 4th. It’s down 0.39 per cent d/d and down 1.05 per cent y/y.

PX (of Prague) decreased from 1030.39 index points Tuesday, September 3rd to 1028.39 index points Wednesday, September 4th. It’s down 0.19 per cent d/d and down 4.24 per cent y/y.

RTS (of Moscow) increased from 1303.49 index points Tuesday, September 3rd to 1330.77 index points Wednesday, September 4th. It’s up 2.09 per cent d/d and up 23.0 per cent y/y.

SAX (of Bratislava) increased from 335.16 index points Tuesday, September 3rd to 341.37 index points Wednesday, September 4th. It’s up 1.85 per cent d/d and down 2.53 per cent y/y.

SOFIX (of Sofia) increased from 571.00 index points Tuesday, September 3rd to 573.20 index points Wednesday, September 4th. It’s up 0.24 per cent d/d and down 9.41 per cent y/y.

UX (of Kyiv) decreased from 1537.71 index points Tuesday, September 3rd to 1533.80 index points Wednesday, September 4th. It’s down 0.25 per cent d/d and down 5.95 per cent y/y.

WIG20 (of Warsaw) decreased from 2107.16 index points Tuesday, September 3rd to 2102.73 index points Wednesday, September 4th. It’s down 0.21 per cent d/d and down 9.41 per cent y/y.

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