1. BUCHAREST STOCK market EVOLUTION
During the transactioning week that just ended the Stock market's evolution showcased accentuated drops especially on Tuesday and Thursday followed by a significant rally on Friday, when many stocks went up by 15%, the maximum allowed. Overall the BET index lost 7.33% and the BET-FI index shed 11.751%. The transactioned volumes registered a strong 159.96% increase (this week's average is 35.12 million compared to 13.51 million last week).
On the deal market 2 transactions took place on Tuesday with BRD and SNP shares totalling 21.98 million RON. The most important transaction consisted of 57.16 SNP shares valueing 21.26 million RON, the transaction being done in a price of 0.3720 RON.
The exchange rates had the following evolution, the euro strengthened itself versus the RON with a +1.25% variation going from 3.6031 to 3.6480 while the dollar went up by 0.36% from 2.5570 to 2,5661.
Evolution of BET and transactioned volume September 15th-19th (chart)
Evolution of BET-FI and SIF transactioned volume September 15th-19th (chart)
2. MOST IMPORTANT STOCKS
| Symbol | Liquidity* (mil. RON) | Price(RON) | Variation | |
| 12.09.08 | 19.09.08 | |||
| SNP | 40.37 | 0.3890 | 0.3700 | -4.88% |
| SIF5 | 30.10 | 1.7300 | 1.4600 | -15.61% |
| BRD | 26.89 | 15.8000 | 13.4000 | -15.19% |
| SIF2 | 21.41 | 1.5800 | 1.3600 | -13.92% |
| EBS | 16.42 | 139.6000 | 150.9000 | 8.09% |
| SIF3 | 13.98 | 0.8000 | 0.7200 | -10.00% |
| SIF4 | 12.07 | 1.0000 | 0.9400 | -6.00% |
| SIF1 | 11.60 | 1.5400 | 1.3500 | -12.34% |
| TGN | 3.82 | 180.5000 | 172.5000 | -4.43% |
| TEL | 3.40 | 20.9000 | 19.4000 | -7.18% |
Top 5 price gains
| Name | Variation |
| Aurora S.A. (AUR) | 86,67% |
| Grupul Industrial Electrocontact S.A. (ECT) | 28,93% |
| Rulmenti S.A. (RBL) | 16,36% |
| Feleacul S.A. (FEL) | 16,25% |
| Banca Comerciala Carpatica S.A. (BCC) | 9,63% |
Top 5 price drops
| Name | Variation |
| Albapam S.A. (ALB) | -33,96% |
| Mobila Alfa S.A. S.A. (ALF) | -33,33% |
| Biofarm S.A. (BIO) | -22,64% |
| Amonil S.A. (AMO) | -21,28% |
| Electroputere S.A. (EPT) | -21,05% |
2. IMPORTANT LOCAL news
- The local auto market registered a 17.4% decrease in August, down to 28335 units, following the reuction with a similar product of car sales that reached 24500 units. Also, August was the first month of drastic drops in the case of commercial vehicles, that reached 3574 units 20.8% less than in August 2007.
- On Wednesday a third budget rectification will be approved, this will increase the income by 6.4 billion RON and also increase expenses by 7 billion, said for Mediafax the Romanian Economy and Finance minister, Varujan Vosganian.
3. IMPORTANT INTERNATIONAL news
- At the beginning of the week Lehman brothers, the 158 years old company tha survived the bakruptcies of the late 1800s, the Great Depression the 30s and the collpase of Long-Term Capital management 10 years ago, announced that it filed for bankruptcy after talks of a bailout from the U.S. government led to no result. Unlike the decision to let Lehman Brothers go bankrupt, AIG was considered a company that needed saving, because of the effects the failure of the insurance company would have on the financial markets world-wide. The U.S. government decided to intervene to save AIG by injecting capital worth 85 billion dollars. The agreement states that the government will lend for he next 2 years 85 billion dollars and will own 79.9% of the companys capital. On Wednesday night, the central banks of the United States of America, Canada, Great Britain, European Union, Switzerland and Japan decided to pump 247 billion dollars in the financial markets in a coordonated offer to reduce the pressure generated by the lates events on Wall Street. This is the largest concerted intervention in the history of central banks. This action led to a strong rally on the stock market, most banks in Europe and the U.S. registering growths of over 10%, investors being encouraged by the liquidities entering the market and by the actions taken by the regulatory authorities in the U.S. and other states in the EU to ban speculative transactions (short-selling on financial institutions).
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http://reports.aiidatapro.com/BOB/KD_Capital_Management/Market_report_Sept_19_2008.pdf
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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 Sept 19 2008.pdf, 100 Kb
