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1. STOCK exchange OVERVIEW
Last week has experienced new losses for the entire market. The BET index has dropped 2,1%, and BET-FI 1,8%. The daily average was approximately 12,6 mln euro, 53% less than the week before.
External markets had significant depreciations because of the negative news regarding the macro-economic situation in the United States. Data about the evolution employment market for Februaryhas shown that the number of active jobs has dropped by 63.000, compared to only 22.000 jobs lost in January.
According to the National Institute of Statistics (INS), Romania’s economic growth for 2007 was 6%, over the estimated 5,7%. In the fourth quarter of 2007 the economy has increased with 6,6%, the biggest quarterly increase for the last year. Also, the investments in the national economy have increased with 29%. The Gross Domestic Product (GDP) reached 121,3 bln euro, compared to 97,2 bln in 2006.
BET and turnover (chart)
BET-FI and SIFs' turnover (chart)
2. THE MOST IMPORTANT LISTED SHARES AND company news
| Symbol | Liquidity* (mil. RON) | Price(RON) | Change | |
| 29.02.08 | 07.03.08 | |||
| SIF5 | 20,53 | 3,3600 | 3,2100 | -4,46% |
| SIF2 | 11,92 | 2,7600 | 2,6800 | -2,90% |
| TLV | 9,66 | 0,7550 | 0,7500 | -0,66% |
| SIF4 | 8,59 | 1,8100 | 1,8000 | -0,55% |
| SIF1 | 8,23 | 2,7900 | 2,8000 | 0,36% |
| BRD | 7,86 | 20,1000 | 19,9000 | -1,00% |
| EBS | 7,56 | 145,2000 | 136,0000 | -6,34% |
| SIF3 | 6,93 | 1,7400 | 1,7200 | -1,15% |
| TGN | 5,68 | 251,3000 | 235,0000 | -6,49% |
| BRK | 2,37 | 2,0600 | 1,9800 | -3,88% |
Top 5 gainers
| Name | Change |
| Agras - Grupul Wiener Stadtische (ASA) | 9,05% |
| Vae Apcarom Buzau (APC) | 7,95% |
| Uamt Oradea (UAM) | 7,32% |
| TMK Artrom (ART) | 5,42% |
| Prodplast Bucuresti (PPL) | 2,94% |
Top 5 losers
| Name | Change |
| Policolor Bucuresti (PCL) | -14,25% |
| Carbochim Cluj-Napoca (CBC) | -11,24% |
| Amonil Slobozia (AMO) | -9,30% |
| Impact Developer & Contractor (IMP) | -9,09% |
| Santierul Naval Orsova (SNO) | -8,46% |
The Ministry of Transport (MT) began the procedures for the Bucharest Stock exchange listing of 5% of the Henri Coanda International Airport. For the airport’s listing the government must first cancel the decision to create the National Airport company Bucharest.
Flamingo International (FLA) reported a net profit of 2,49 mln euro, compared to the 6,08 mln euro loss in 2006. The company’s turnover reached 149,83 mln euro, 188,6% more than in 2006. The operating costs have been drastically decreased because of the consolidating processes implemented in 2006 and 2007.
Vrancart (VNC) management wants to increase the share capital with 1,68 mln euro by using 1,42 mln euro from the 2007 profit and 0,24 mln euro from he previous years’ profits. Each shareholder will be given one new share for every ten shares that he owns.
SIF Transilvania (SIF3) will begin the merger process for the tourism companies that it controls. After this process will end, three tourism companies from the RASDAQ market, Tuşnad Harghita (TSND), Turism Covasna (TUAA) and Tratament Balnear Buziaş (BALN), will have merged with Turism Felix (TUFE).
SIF Oltenia (SIF5) proposed to give a gross dividend of 0,078 lei/share for 2007.
Standard & Poor’s has improved the corporative rating for Transgaz (TGN) from „BB+” to „BBB-” as a result of the company’s success in the ipo by which it has secured the resources needed for mid-term investments.
Aerostar (ARS) management proposed to shareholders a gross dividend of 0,065 lei/share for 2007
3. PERSPECTIVES
Because of the financial crisis that is currently manifesting at a global level, on the short-term there is a risk for the main BVB indexes to retry their February minimums. On the long term, the economic situation of Romania is stabile, with an estimated 5% of economic growth for 2008. The economy's positive situation could influence the Stock exchange, but only after the international markets will no longer experience a high volatility, especially in the United States.
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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 03-07Mar 2008.pdf, 169 Kb
