NBP say lack interesting investment opportunites on domestic market

The reason for this is the lack of attractive opportunities for investing on the domestic capital market. In the first half of 2003, investors spent zł. 11 billion more on buying foreign stocks. According to preliminary data from NBP, the surplus on these transactions amounted to zł. 448 million in June. Mateusz Szczurek, chief economist with ING Bank Śląski, said the result is due to increasing optimism on foreign markets. Presently the Securities and Stock Exchange Commission (KPWiG) allowed 13 brokerage houses to mediate investments on foreign markets. Analysts say, the percentage of those investing abroad is still very small and is also due to higher liquidity of financial instruments and maturity of markets. "After introducing taxation on capital gains, the attractiveness of the domestic financial markets will drop even further," said Barbara Tomczuk, director of DI BRE Bank. (Rzeczpospolita, pp. A1, B1) M.M