Poland hit a milestone on Monday with its promotion to ‘developed market’ status in indices run by FTSE Russell, becoming the first country in Europe to make the step and the first country in the world to be awarded such an upgrade in almost a decade. “The development … represents a fundamental change in the perception of Poland among global investors,” said Marek Dietl, president of the Warsaw Stock Exchange. “Poland’s reclassification will spark the interest of new investors in Polish issuers and open enormous opportunities for the entire capital market. I do believe that in the long term it will attract bigger capital inflows.” Russell’s move to rank Poland alongside the US, UK and Germany has been in the works for several months and involves shifting 37 companies including PKO Bank and Bank Pekao into the developed-market basket. The country was also upgraded by Stoxx, part of the Deutsche Boerse Group, last week. Helping it to straddle two investor bases, though, it remains in the emerging-market category for MSCI.