Jostling for position on the WSE

Every quarter, the Warsaw Stock Exchange (WSE) adjusts its listings, moving companies among its indexes according to variations in their size or success. This time, the WSE implemented several significant changes, with many firms moving from the small-cap WIRR index to the WSE's main index, the WIG.

KBC Securities analyst Grzegorz Lityński attributes this to an upward trend on the WSE: "Even though the political environment was not the best, our bourse followed worldwide trends, ignoring temporary obstacles."

Companies moving from the WIRR to the WIG included: Skotan, IDMSA.PL, Polnord, Alma, MCI, Ferrum, Atlanta.pl, Mostalwar, Pepees and Ropczyce. Additionally Polnord, PUE, Wólczanka, Prosper, Mostalexp, Artman, Swissmed and Lentex were added to the Polish-only WIG-PL index. However, not all companies moved up in the world. Swarzędz fell from the WIG and is now listed on the WIRR.

One switch that drew much attention was the replacement of IT firm Softbank - a subsidiary of WIG20-listed sector giant Prokom - on the blue-chip WIG20 index with the metals group Boryszew.

"This is not abnormal," Lityński says. "Softbank is not one of the so-called ever-lasting WIG20 companies. Companies are moved from the WIG20 if they do not meet formal requirements."

Softbank is now listed on the mid-cap MIDWIG index and was joined by Puławy, Sanwil and Strzelec.