1. BUCHAREST STOCK market EVOLUTION
During the transactioning week that just ended the Stock market's evolution followed a descending trend outlined by a decrease of the BET index of 3.81%, the BET-FI index fell harder, losing 6.64%. The transactioned volumes registered a 11.16% decrease (this week's average is 22.24 millon RON compared to 23.91 million last week). On the deal market a single transaction took place on Monday, it consisted of 50.000 BRD shares valueing 900.000 RON.
The exchange rates had the following evolution, the euro lost 0.24% versus the RON from 3.5302 to 3.5216, while the dollar went down by 0.96% from 2.3967 to 2.3738.
Evolution of BET and transactioned volume (chart)
Evolution of BET-FI and SIF transactioned volume (chart)
2. MOST IMPORTANT STOCKS
| Symbol | Liquidity* (mil. RON) | Price (RON) | Variation | |
| 15.08.08 | 22.08.08 | |||
| SIF5 | 17.13 | 1.8900 | 1.6500 | -12.70% |
| BRD | 16.11 | 18.0000 | 16.9000 | -6.11% |
| SIF1 | 11.71 | 1.6600 | 1.5500 | -6.63% |
| SIF3 | 7.97 | 0.9000 | 0.8750 | -2.78% |
| SIF2 | 7.91 | 1.6200 | 1.5200 | -6.17% |
| EBS | 6.85 | 149.0000 | 140.3000 | -5.84% |
| TLV | 6.63 | 0.3090 | 0.3010 | -2.59% |
| SIF4 | 6.61 | 1.0600 | 1.0200 | -3.77% |
| SNP | 5.31 | 0.4450 | 0.4420 | -0.67% |
| AZO | 3.05 | 0.7800 | 0.7400 | -5.13% |
*weekly total of transactions
Top 5 price gains
| Name | Variation |
| Foraj Sonde Ploiesti S.A. (FSP) | 36,67% |
| Cercon Ariesul S.A. (CER) | 33,33% |
| Teraplast S.A. (TRP) | 17,76% |
| Stratusmob S.A. (STR) | 16,67% |
| EMA Piatra Neamt S.A. (EPN) | 12,31% |
Top 5 price drops
| Name | Variation |
| Dorobantul S.A. (DOR) | -46,67% |
| Rafo S.A. (RAF) | -32,61% |
| Somesul S.A. (SMS) | -26,12% |
| Albapam S.A. (ALB) | -24,49% |
| SSIF broker Cluj S.A. (BRK) | -19,90% |
2. IMPORTANT LOCAL news
- Romania's Gross Domestic Product (GDP) has registered an 8,6% increase in the first semester of the year, as the economy grew by 8.9% in the second trimester, both values are record highs for the last two decades, according to Romanian Economy and Finance minister, Varujan Vosganian. The budget's deficit was 0.64% of the GDP, at the hald of the year, the outlook for the end of the year being at 1.2%.
- Romania could record this year direct foreign investments valueing over ten billion eurps, said Romanian Economy and Finances minister, Varujan Vosganian. "We can hope for this year to overcome the psychological ceiling of 10 billion euros, given that after six months the value of direct foreign investments was 4.8 billion euors, and the annual series of data pont towards an increase in the second half of the year", said Vosganian. The Romanian Agency for Foreign Investements (ARIS) revised on Friday its predictions regarding the value of direct foreign investments for this year, from 7 billion euros to 8 billion, these being below the estimates of the minister.
- The Romanian Securities exchange Commission (CNVM) has approved in July the creation of the alternative transactioning system adminitered by the Romanian Stock exchange (BVB) and decided that all companies listed on the RASDAQ market be transfered to this system. The capital market law states that investment funds and the SIFs (Financial Investment Companies) are allowed an exposure of maximum 10% in stocks that are not being transactioned on a regular market or transactioned on an alternative transactioning system. According to this project, the SIFs will have three year to sell the shares they own on the RASDAQ market, the value of the shares is over 717 million RON (200 million euros). The project is subject to public debate until Wednesday the 27th of August, and in the coming weeks the Commision will validate the new regulations in their final form.
3. IMPORTANT INTERNATIONAL news
- Federal Reserve Chairman Ben Bernanke on Friday said the stronger dollar and lower oil prices, along with the weak economy, should curb inflation, in a hint that interest rates would stay on hold, though he warned the inflation outlook is "highly uncertain."Bernanke called a recent decline in commodity prices and stabilization of the U.S. dollar "encouraging.""If not reversed, these developments, together with a pace of growth that is likely to fall short of potential for a time, should lead inflation to moderate later this year and next," he told the annual Kansas City Federal Reserve Bank conference on monetary policy in Jackson Hole, Wyoming.
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Copyright: 2006 SSIF KD Capital management SA. All rights reserved.
For further Information please contact SSIF KD Capital management, a member of KD Group, 5 Gheorghe Manu Str, fl 4, 010442 Bucharest, Romania
Phone: +40 21 650 04 46, fax: +40 21 650 04 48, e-mail: radu.popescu-buzeu@kd-capital.ro, web site: www.kd-group.ro
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Market report Aug 22 2008.pdf, 92 Kb
