Warsaw Stock Exchange wants to be the first choice market in Ukraine

Paweł Tamborski, CEO of Warsaw Stock Exchange. (©GPW)

Is CEE wealthy?

More jobs in Hungary.

In Bulgaria the business climate is not enough.

Poland and Ukraine

Interfax publishes an interview with Pawel Tamborski, the president of Warsaw Stock Exchange. Asked about the forecasts of WSE Ukraine, Mr Tamborski said that Polish Stock Exchange should be the first choice exchange for Ukrainian companies which are searching for a capital in the nearest future. 12 Ukrainian companies have been already listed on the Warsaw Stock Exchange. Of course, the new listings of Ukrainian companies would be possible, if situation of Ukrainian capital becomes more clear and transparent. 
Mr Tamborski also talks about privatization of a state-owned companies in Ukraine. He said that after 25 years of experience Polish capital market has worked out many interesting solutions in that matter. Ukraine can learn from Polish experience. In the meantime, Tamborski said, the priority for Ukraine is strengthening the domestic capital market.

Asked about the investors’ mood after Ukraine’s government negotiated the reduction of its foreign debt with private creditors, he hesitated to answer. “We are not in the position to advise investors whether they should invest or not”- he said.

Read the interview

Central and Eastern Europe

The total global personal financial assets amount to EUR136 trillion – reveals the latest “Allianz Global Wealth Report 2015”. The assets of households grew fast in 2014. They were up 7.1 per cent compared with the level of 2013. The global liabilities of households also grew, but not so quickly, achieving the sum of EUR35,2 trillion (that is the highest debt level since the financial crisis in 2008). That means the net personal financial assets in 2014 were EUR100,6 trillion and it’s a new record. It’s up by 8.1 per cent y/y.

Of course, households from North America (with net financial assets averaging EUR132,540 per capita) are the richest worldwide. The net financial assets of households in Eastern Europe averages only EUR2,720 per capita. The average of net personal financial assets for the CEE countries are:

  • EUR6,455 in Bulgaria
  • EUR7,774 in Croatia,
  • EUR11,275 in Czech Republic
  • EUR11,026 in Estonia,
  • EUR8,578 in Latvia,
  • EUR6,750 in Lithuania,
  • EUR6,194 in Poland,
  • EUR862 in Serbia.
  • EUR5,232 in Slovakia,
  • EUR1,037 in Ukraine

CEE inhabitants hold 43 per cent of their savings in bank deposits. They’re not very eager to invest in shares or securities.

>>Full report

Hungary

The unemployment drops in Hungary. The number of jobless people in Hungary averages 303,800. The data from Central Statistical Office show decreasing unemployment rate over last months, as well as y/y. In the period June – August 2015 the rate was 6.7 per cent, while in the same period of 2014 it was 7.7 per cent. Between May and July 2015 the rate of unemployment was 6.8 per cent. What’s the structure of unemployment in Hungary? In the population of men, age 15-74, the number of unemployed fell by 24,000 to 155,000. In the population of women, age 15-74, the number of unemployed decreased by 15,000 to 149,000. The average duration of unemployment increased from 18.7 to 19.2 months. 48.5% of unemployed people had been searching for a job for one year or more.

>>More

Hungarian venture capital become lazy

Hungarian venture capital funds are becoming lazy. As the data from Hungarian Venture Capital Association (HVCA) show, in Q2’2015 the companies closed only 17 transactions, while in Q1’2015 it was 26. The total funds invested in Q2 amounted to HUF2,6bn but it was 43 per cent less than in the first quarter of the year. The average transaction value was HUF150m, while the biggest was HUF568m. It seems that 57 per cent of funds went to start-ups. Approx. 27 per cent went to companies that have already received funds in the past. The most popular is life sciences sector. The second best are industrial products and industrial services.

>>More

Bulgaria

In the meantime Bulgarian business climate indicator dropped by 2.9 per cent in September 2015 (compared with August 2015). It happened because of the uncertain economic environment, insufficient domestic demand and weakness of Bulgarian economic law.

The data from Bulgarian National Statistical Institute (NSI) show that:

  • the business climate in industry has decreased by 4.8 per cent,
  • the business climate indicator in construction dropped by 3.4 per cent,
  • the business climate indicator in retail trade dropped by 1.7 per cent.

>>More

What’s up in indexes?

Only BUX of Budapest grew on Tuesday. The other indexes of CEE countries didn’t do fine.

BUX index (of the Budapest Stock Exchange) increased to 20932,82 index points on Tuesday. It is up 1.29 per cent compared with Monday’s result of 20666,72 index points. And it is up 25.84 per cent from year-end.

BET (of Bucharest) dropped again (as on Monday) ending with 7056,34 index points. The day before it was 7064,82 index points. So the drop was 0.12 per cent. And it’s also down from year-end: minus 0.38 per cent.

PX (of Prague) dropped by 0.31 per cent. On Tuesday it was 959,37 index points while the previous result was 962,35 index points. But from year-end it is up 1.34 per cent.

WIG20 (of Warsaw) dropped on Tuesday by 0.80 per cent ending with 2043,00 index points (compared with 2059.41 index points on Monday). From year-end it fell by 11.79 per cent.

OMXT (of Tallinn) desreased slightly to 869,96 index points. That means it dropped by 0.42 per cent. On Monday it ended with 873,60 index points. But the index still grows from year-end and it’s now up 15.22 per cent.

OMXV (of Vilnius) ended down 0.72 per cent on Tuesday with 478,14 index points (compared with 481,61 index points on Monday). From year-end it is up 5.68 per cent.

The second regional leader, SAX (of Bratislava) decreased a bit on Tuesday (same as on Monday) to 268,87 index points. That’s a drop of 0.70 per cent. And it’s up 20.94 per cent from year-end.

UX (of Ukraine) dropped again. On Tuesday it ended down with 852,22 index points compared with 858,49 index points on Monday (a drop by 0.73 per cent). And from year-end

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