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Six months into 2009, the Warsaw Stock Exchange is the leader in equity turnover value and market capitalisation in Central and Eastern Europe.
The Federation of European Securities Exchanges (FESE) data summing up the first half of the current year confirms the leading position of the Warsaw Stock Exchange in Central and Eastern Europe.
At the end of June, the market capitalisation of domestic companies on the WSE amounted to 66 billion euros, whereas the equity turnover value in the first half of this year was 16.7 billion euros.
Fig. 1 – Market capitalisation of domestic companies in January-June 2009 (in billion euros) |
Source: FESE
In terms of capitalisation of domestic companies and equity turnover value, Wiener Boerse is on the second position in the region. In June ’09, WSE market capitalisation increased 3.2% month on month (with the EUR/PLN exchange rate remaining practically unchanged). During the same period, the value of domestic companies in Vienna decreased 1.6%.
From the perspective of equity turnover value, the leading position of the Warsaw Stock Exchange vis-à-vis its Austrian competitor was maintained for most of part of the first half of this year (4 months). In H1 2009, equity turnover value on the Warsaw bourse was 700 million euros higher than on Wiener Boerse.
Fig. 2 - Equity turnover value in H1 2009. |
Source: FESE
Figure no. 3 also presents interesting information as it shows that the Warsaw Stock Exchange is weathering the financial crisis better than its Austrian competitor. The comparison of equity turnover value in H1 2009 with the same period in 2008 reveals that the turnover on the WSE decreased 35%, whereas at the Wiener Boerse it was down by 60%.
Fig. 3 - Equity turnover value – H1 2009 and H1 2008 (in billion euros) |
Source: FESE
The strong position of the WSE in Europe is also visible in the Initial Public Offering (IPO) market. According to the IPO Watch Europe Report, prepared by PricewaterhouseCoopers (PwC) consulting firm, in the first half of the current year the WSE outstripped all European bourses in terms of the number of IPOs (13 IPOs). In IPO value terms, the Warsaw Stock Exchange occupied the runner-up position to the London Stock Exchange. In the light of the PwC report, the WSE looks exceptionally well compared to Wiener boerse which has not yet hosted a single IPO in 2009.
