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© KD Group d.d. |
1. STOCK exchange OVERVIEW
Last week has brought an increase for the stock exchange market. The BET index went up by 1,5% while the BET-FI increased 2,1%.
The trading volumes decreased 27,4% compared to the week before, reaching 8,27 mln euro. Also, a deal transaction took place with Banca Română pentru Dezvoltare (BRD) shares worth 0,40 mln euro.
The indicator that measures the durable goods demand evolution in the United States has decreased 2,6% over the month before, a lot more than the estimated percentage. New house sales in the US amounted to 590.000 units, decline compared to the same periodof 2007, when 601.000 houses were sold. The Gross Domestic Product (GDP) increase with0,6% in the fourth quarter of 2007, while the GDP deflator is 2,4%, below the 2,7% estimate.
The Romanian National Bank’s Council (BNR) has decided on the 26thof March to increase the monetary policy interest rate to 9,5%, opposed to the previous 9% value.
According to National Institute of Statistics’ data, 4.096 construction authorizations were released in February for residential buildings, 69,9% more than in January and 29,3% over the similar period of last year.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 | |
| 21.03.08 | 28.03.08 | |||
| SIF5 | 22,97 | 2,8900 | 2,9400 | 1,73% |
| BRD | 17,40 | 18,9000 | 20,3000 | 7,41% |
| SIF2 | 16,62 | 2,3900 | 2,4400 | 2,09% |
| SIF4 | 14,10 | 1,6000 | 1,6400 | 2,50% |
| TLV | 10,10 | 0,7250 | 0,7300 | 0,69% |
| TGN | 8,55 | 217,5000 | 227,0000 | 4,37% |
| SIF1 | 6,82 | 2,4600 | 2,5200 | 2,44% |
| EBS | 6,60 | 136,5000 | 154,1000 | 12,89% |
| SIF3 | 5,06 | 1,5000 | 1,5300 | 2,00% |
| SCD | 4,35 | 0,6050 | 0,6000 | -0,83% |
Top 5 gainers
| Name | Change |
| Electrocontact Botosani (ECT) | 14,58% |
| Erste Bank (EBS) | 12,89% |
| Armatura Cluj-Napoca (ARM) | 10,48% |
| Alro Slatina (ALR) | 9,70% |
| TMK Artrom (ART) | 9,09% |
Top 5 losers
| Name | Change |
| Condmag SA (COMI) | -9,04% |
| Turbomecanica Bucuresti (TBM) | -8,00% |
| Vrancart Adjud (VNC) | -7,63% |
| Banca Comerciala Carpatica Sibiu (BCC) | -7,41% |
| Vae Apcarom Buzau (APC) | -6,33% |
During the 7 – 17 April the Teraplast Bistriţa ipo will take place. The company’s field of activity is construction materials and plastic production. The company intends to obtain between 13 and 19 mln euro through the listing of 25% of the share capital. The buying price will be between 1 leu and 1,4 lei, and will be determined at the end of the offer.
Turbomecanica (TBM) had a 2,02 mln euro profit for 2007, two times smaller than the one in 2006. The company’s turnover was 24,67 mln euro, 11,9% lower than in 2006. The company does not intend to give dividends for 2007.
Erste Bank (EBS) sold the insurance company Sparkassen Versicherung to Vienna Insurance Group (VIG) for 1,4 bln euro.
Impact (IMP) management intends to buy back 4,5% of the share capital for a fidelity program for the employees. The price will be between 0,1 and 0,5 lei.
Biofarm (BIO) management wants to increase the share capital with 3,14 mln euro, from 26,26 mln euro to 30 mln euro by incorporating the 2007 profit. The allocation rate is 0,12 shares for each share owned.
Dafora (DAFR) shareholders have approved to create a private limited company in association with Crown Construction for a real estate project in Bucharest. Dafora will own 50% of the new company which will have as a main field of activity residential and industrial building construction.
Interagro Group, a shareholder at Amonil Slobozia (AMO) will finance two AMO contracts with 8,9 mln euro. This investment is ensured with mortgages on buildings in the Slobozia city.
3. PERSPECTIVES
After a long period of severe corrections on the entire capital market, it is expected that the coming weeks will bring a slight rebound in prices. In order for a positive trend to begin, the trading volumes must increase and positive news from the American market must be published.
In the next period the General Shareholder's Meetings will take place in order to approve how the 2007 profit will be spent.
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http://reports.aiidatapro.com/BOB/KD_Capital_Management/Market_report_24-28Mar_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 24-28Mar 2008.pdf, 169 Kb
