1. BUCHAREST STOCK market EVOLUTION
The week that just ended presented investors with a drop in the stock market. The BET index fell by 6,36%, while the SIF (Financial Investment Companies) index fell by 3,21%. The transactioned volumes saw a 9,7% gain, (this week’s average is 25,68 million RON versus 23,41 million last week). On the deal market a single transaction was made worth 1,32 million RON consisting of 59.370 BRD shares.
The exchange rates had the following evolution: the euro strenghtened versus the RON gaining 0,24% (from 3,6601 to 3,6688), while the dollar fell by 0,89% (from 2,3736 to 2,3525).
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 | |
| 16.06.08 | 20.06.08 | |||
| SIF3 | 15.73 | 1.6200 | 1.6100 | -0.62% |
| BRD | 14.69 | 21.8000 | 20.0000 | -8.26% |
| SNP | 13.06 | 0.5150 | 0.4810 | -6.60% |
| SIF2 | 11.17 | 2.1800 | 2.0900 | -4.13% |
| SIF5 | 10.94 | 2.8900 | 2.8000 | -3.11% |
| SIF4 | 10.29 | 1.6700 | 1.6400 | -1.80% |
| SIF1 | 10.22 | 2.3400 | 2.2300 | -4.70% |
| TLV | 10.12 | 0.4490 | 0.4110 | -8.46% |
| EBS | 6.45 | 164.0000 | 156.0000 | -4.88% |
| PCL | 4.67 | 3.3500 | 4.2700 | 27.46% |
*weekly total of transactions
Top 5 price gains
| Name | Variation |
| Policolor S.A. (PCL) | 27.46% |
| GHCL Upsom Romania S.A. (UPS) | 21.74% |
| Romcarbon S.A. Buzau (ROCE) | 13.66% |
| Electoaparataj S.A. (ELJ) | 12.68% |
| Mecanica Ceahlau (MECF) | 6.48% |
Top 5 price drops
| Name | Variation |
| Aeroteh S.A.. (AER) | -26.02% |
| Foraj Sonde Ploiesti (FSP) | -18.18% |
| Santiereul Naval Constanta (SNC) | -17.50% |
| Amco S.A. (AMC) | -14.36% |
| Oltchim S.A. Rm, Valcea (OLT) | -13.86% |
2. IMPORTANT LOCAL news
- The shareholders of Condmag S.A. (COMI) have approved the solicitation of a letter of warranty from Raiffesen Bank worth 19.4 million RON in order to guarantee the advance payment from Romgaz based upon a contract for upgrading the gas compression station in Cristuru Secuiesc. The shareholders also approved the set up of a new lucrative facility in Medias and the sale of a commercial store located in the Orizont 3000 complex in Bucharest.
- Distrigaz Sud wishes to raise gas tariffs by 22% in the context of the worlwide price gains in the energy market, company representatives are complaining that the costs currently established by ANRE do not cover their expenses. Distrigaz announced that the price will be raised on the 1st of July but that the gain will be less than 20%. This price gain will affect the industries which utilize natural gas as raw material.
- Policolor (PCL) stocks gained 27.46% on the Bucharest Stock market last week, mostly due to the announcement that the RC2 and RIF investment funds will buy the 33% share package previosly held by RAEF for 27.5 million RON, after taking over the package RC2 and RIF will hold 92.5 % of the company. If they owned 95% they could ask for the withdrawal of the minority shareholders and possibly unlist the company.
3. IMPORTANT INTERNATIONAL news
- Stocks capped a difficult week with steep losses Friday amid escalating worries about the financial and automotive sectors and a rebound in oil prices. The major indexes fell by more than 1 1/2 percent on the day, and the Dow Jones industrial average gave up more than 200 points to end at its lowest level in three months. The multiple troubling news coming in from the financial sector had an important role in these drops, major banks are reporting personnel cuts (Washington Mutual Inc), debt markdowns (Citigroup Inc.), downgrades of regional banks (Merrill Lynch), also two of the hedge fund managers of Bear Sterns were charged with lying to investors.
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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 16-20 June 2008.pdf, 94 Kb
