1. BUCHAREST STOCK market EVOLUTION
During the transactioning week that just ended the Stock market started to show signs of a stabilization. The BET index even registered a small increase, but the BET-FI index depreciated mostly dragged down by SIF Oltenia and Muntenia shares which lost 13.33% and 6.90% respectively. Overall, the BET index gained 0.41%, while the BET-FI index fell by 6.37%. The transactioned volumes registered an 39.10% drop (this week’s average is 20.25 millon RON compared to 33.26 million last week).
On the deal market 3 deals took place with IMP, SNP and DAFR shares totalling 4.26 milion RON, the largest deal being the one consisting of DAFR stocks worth 1.96 million RON.
The exchange rates had the following evolution, the euro gained 0.51% versus the RON from 3.5474 to 3.5656, while the dollar went up by 1.54% from 2.2335 to 2.2678.
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 | |
| 18.07.08 | 25.07.08 | |||
| SNP | 16.52 | 0.4160 | 0.4350 | 4.57% |
| SIF2 | 11.80 | 1.6300 | 1.6300 | 0.00% |
| SIF5 | 9.69 | 2.2500 | 1.9500 | -13.33% |
| SIF3 | 8.40 | 1.0000 | 0.9800 | -2.00% |
| SIF1 | 8.01 | 1.6200 | 1.5700 | -3.09% |
| AZO | 7.52 | 0.8200 | 0.8200 | 0.00% |
| SIF4 | 7.41 | 1.1600 | 1.0800 | -6.90% |
| TLV | 5.78 | 0.2880 | 0.2980 | 3.47% |
| BRD | 4.37 | 18.5000 | 18.6000 | 0.54% |
| SOCP | 3.07 | 0.4000 | 0.4000 | 0.00% |
*weekly total of transactions
Top 5 price gains
| Name | Variation |
| Electroaparataj S.A.. (ELJ) | 50.00% |
| Moldomobila S.A. (MOL) | 22.22% |
| Carbochim S.A. (VNC) | 18.10% |
| Mefin S.A. (MEF) | 13.55% |
| Electroceramica S.A. (ELC) | 11.11% |
Top 5 price drops
| Name | Variation |
| Aurora S.A. (AUR) | -32.20% |
| Dorobantul S.A. (DOR) | -26.32% |
| Electroputere S.A. (EPT) | -18.27% |
| SIF Oltenia S.A. (SIF5) | -13.33% |
| Faur S.A. (FAU) | -12.57% |
2. IMPORTANT LOCAL news
- The listing of Romanian T-Bills on the Romanian Stock exchange will probably take place on Monday, as the necessary approvals were received from the NBR and the CNVM, said Ovidiu Sergiu president of the Central Depositary. The listing of T-Bills is expected by institutional investors, like pension funds or mutual funds which have, at the moment, too few fixed income instruments at their disposal.
- The Board of Directors of Transilvania Bank (TLV) are asking their shareholders’ approval in order to by 529 million shares for a price between 0.28 and 0.4 RON, in an attempt to stabilize the price of stocks on the Stock exchange, which fell dramatiaclly in the last 6 months. The bank can buy up to 5% of the shares. Also the management has proposed modifying the nominal value of the shares from 0.1 to 1 RON per share.
- The Bucharest Stock exchange has lost over 57% when compared to the maximal values reached an over ago, higher drops are only registered in Vietnam and Bosnia-Herzegovina, where the market fell by 69%. An year ago, the stock market indexes were reaching historical high points, as a general euphoria was felt by investors and brokers alike.
3. IMPORTANT INTERNATIONAL news
- Orders for U.S. durable goods unexpectedly rose in June, and sales of new homes were higher than forecast, easing concern that the economic slowdown will worsen. Bookings for goods made to last several years gained 0.8 percent and posted the first consecutive monthly rise since July 2007, the Commerce Department said today in Washington. New homes sold at an annualized pace of 530,000, exceeding the median forecast of 503,000 in a Bloomberg news survey. A private report showed consumer sentiment rose from a 28-year low. Economists had forecast that the slowdown would worsen by year-end. "At the end of the day, we are going to avoid a severe recession,'' said James O'Sullivan, a senior economist at UBS Securities LLC in Stamford, Connecticut. Wall-Street responded to these news, stocks ending higher on Friday.
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http://reports.aiidatapro.com/BOB/KD_Capital_Management/Market_report_21-25_July_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 21-25 July 2008.pdf, 83 Kb
