Warsaw Stock Exchange News
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Record stock sales and a growing economy are helping Poland solidify its position as central Europe’s busiest financial center, even as euro-area neighbors struggle to shake the sovereign-debt crisis.
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Immofinanz AG of Austria fell on its first day of trading on the Warsaw Stock Exchange, becoming the biggest property developer listed on central Europe’s fastest- growing equity market.
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Emerging stocks rose to an eight-week high, almost erasing this year’s drop, as foreign inflows boosted Indian shares and homebuilders paced gains in Brazil.
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The Warsaw Stock Exchange said first-quarter profit jumped 25 percent from a year earlier after the purchase of Poland’s biggest power bourse.
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PKO Bank Polski SA, Poland’s biggest bank, will expand its stock research to cover companies outside its home market as foreign competitors are scaling down operations in central Europe’s largest economy.
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The Warsaw Stock Exchange and the Vienna bourse are discussing a merger that would create a hub for equities trading and initial share offerings in central and eastern Europe, said three people familiar with the talks.
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Investors should shun zloty- denominated debt sold by Polish companies because an undeveloped secondary market hampers liquidity and skews pricing, according to the country’s biggest mutual fund.
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Credit Suisse Group AG will move its Polish equity trading to London from Warsaw after turnover on the country’s stock exchange slumped last year.
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The Warsaw Stock Exchange switched to NYSE Euronext’s new trading system to speed up transactions after stock turnover on central Europe’s fastest-growing equity market soared almost four-fold over the past decade.
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The Warsaw Stock Exchange and the Vienna bourse will decide in the next few months on whether to start advanced merger negotiations after the Austrian operator proposed “friendly” consolidation.
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