Warsaw Stock Exchange introduces tech index, futures contracts in July

Warsaw Stock Exchange (WSE) introduced a new index strictly tracking technology stocks last Friday. The TechWIG is based on the 12 information technology (IT) and telecom companies that make up the Segment of Innovative Technologies (SITech). The biggest share in SITech is Telekomunikacja Polska (TPSA) at almost 22%. The other important firms like Prokom S.A., ComputerLand S.A., Optimus S.A. and Softbank S.A. have stakes between 11-17%. Despite TechWIG being launched on Friday its value has been calculated since Jan. 3 and since then has gained 75%. By comparison the WIG increased its value by 2.4% and WIG-20 by 7.6%. "I hope that SITech will be enlarged not only by new entrants like Macrosoft and Netia, but also by already existing WSE companies," said WSE president Wieslaw Rozlucki. Another step in the promotion of the "new economy" companies will be the introduction of futures contracts to the TechWIG in July. (Gazeta Wyborcza, page 26) M.M.