The Warsaw bourse heats up as indicies continue to hit record highs

The main index ended the day at the level of 29,480.61 points, while the WIG20, comprised of the largest enterprises, reached highest level in 2005 and closed the day at 2,127.2 points. The situation in Warsaw is similar to that in Budapest, which in both cases is due to selective demand of foreign portfolio investors. Brokers and analysts warn that the situation on the floors is as hot as the weather and there is high risk of a breakdown any time now. This might also concern the Warsaw bourse, as forex and bonds markets are going the opposite direction, with the złoty losing much in value. Investors disposed of the domestic currency after the NBP announced worse than expected data on balance of payments. (Rzeczpospolita, pp. A1, B1) M.M