Loading ...Bucharest Stock Exchange (BVB) needs at least three years to recover part of the losses, said Matei Chisu, broker from brokerage company IFB Finwest.
The Romanian broker said that “almost desperate measures like that on Oct 8, when the board of Bucharest Stock Exchange decided to close the bourse, are aimed at fighting panic and at tempering excessive sale, a tendency noticed with investors, “such measures are likely to be repeated,” he added.
The Romanian broker said that “almost desperate measures like that on Oct 8, when the board of Bucharest Stock Exchange decided to close the bourse, are aimed at fighting panic and at tempering excessive sale, a tendency noticed with investors, “such measures are likely to be repeated,” he added.
On Oct 10, the bourse reported extreme corrections, the shares of most companies traded on Bucharest Stock Exchange saw drops of almost 15%, writes the Ziarul Financiar daily.
BET index, the main market index, showing the trends in the most important ten companies in the market, went down 9.9%, under the reference level, heading towards the ceiling of 3,000 points. BET-FI index, presenting the situation of the five financial investment companies, registered the highest correction of the market indexes, of 14,9%, up to the level of 15,200%.
BET index, the main market index, showing the trends in the most important ten companies in the market, went down 9.9%, under the reference level, heading towards the ceiling of 3,000 points. BET-FI index, presenting the situation of the five financial investment companies, registered the highest correction of the market indexes, of 14,9%, up to the level of 15,200%.
The shares of Petrom (SNP) reported a correction of 15%, up to a trading price of 0.216 lei/share, and the shares of Rompetrol Refining Co. (RRC) saw a fall of 14.7%, to the level of 0.0049 lei/share. The shares of Transelectrica (TEL) lost, on Oct 10, 10.5%, while those of Transgaz (TGN) went down 14.65% under the reference level.
The negative trends of the energy companies diminished 14.2% the quote of the relevant index, to 400 points.
The negative trends of the energy companies diminished 14.2% the quote of the relevant index, to 400 points.
Of the financial investment companies, the shares of SIF Moldova (SIF2) and SIF Transylvania (SIF3) registered the highest corrections in the session on October 10, of 15%, reaching trading prices of 0.8 lie/share and 0.474 lei/share respectively. Next came the shares of SIF Banat-Crisana (SIF1) and SIF Oltenia (SIF5), which went down 14.9% each under the level of reference of Thursday’s session.
The shares of SIF Muntenia reported the lowest fall, of 14.5%. Most traded from SIFs were the shares of SIF Transylvania (3.5 million shares), while transactions with shares of SIF Banat-Crisana were worth the most (1.5 million lei, or 428 thousand euros).
Chisu said there are two certainties in the market, namely a feeling of uncertainty as regards what is to happen, and the presence in the market of a very big number of speculators. “At such times, most experienced investors come to the market, and they are by far investors who know very well the mechanisms of the market. We can say that at such times, speculative investors are the only ones who know to win. But on a long term, such a high volatility destroys trust among investors, “ Chisu also said.
In the banking sector, the lowest correction was registered by the shares of the Romanian Development Bank – Groupe Societe Generale (BRD), which lost 10.8%, while the shares of Carpatica Commercial Bank (BCC) and those of Erste Bank lost 15% each.
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