1. BUCHAREST STOCK market EVOLUTION
During the transactioning week that just ended theStock market's evolution was volatile with growths on Monday and especially Tuesday followed by drops that culminated on Friday. Overall the BET index lost 2.54% and the BET-FI index grew by 1.85%. The transactioned volumes registered a 33.05% increase (this week's average is 21.90 million compared to 16.46 million last week). The exchange rates had the following evolution, the euro gained 2.06% versus the RON from 3,5330 to 3,6059 while the dollar went up by a strong 5.61% from 2,3972 to 2,5318.
Evolution of BET and transactioned volume September 1st-5th (chart)
Evolution of BET-FI and SIF transactioned volume September 1st-5th (chart)
2. MOST IMPORTANT STOCKS
| Ticker | Liquidity* (mil. RON) | Price(RON) | Variation | |
| 29.08.08 | 05.08.08 | |||
| SIF5 | 16.43 | 1.6300 | 1.7100 | 4.91% |
| SIF2 | 14.92 | 1.6000 | 1.5800 | -1.25% |
| BRD | 12.03 | 16.7000 | 16.0000 | -4.19% |
| SIF3 | 11.68 | 0.8150 | 0.8300 | 1.84% |
| TLV | 10.11 | 0.2880 | 0.2740 | -4.86% |
| SIF4 | 9.38 | 1.0100 | 1.0300 | 1.98% |
| SIF1 | 8.46 | 1.5100 | 1.5300 | 1.32% |
| SNP | 6.46 | 0.4110 | 0.4110 | 0.00% |
| EBS | 3.69 | 144.1000 | 140.0000 | -2.85% |
| IMP | 2.91 | 0.1450 | 0.1330 | -8.28% |
Top 5 price gains
| Name | Variation |
| Mobila Alfa S.A. (ALF) | 50,00% |
| Chimopar S.A. (CPR) | 25,75% |
| Stratusmob S.A. (STR) | 16,67% |
| Aurora S.A. (AUR) | 14,29% |
| Zimtub S.A. (ZIM) | 10,00% |
Top 5 price drops
| Name | Change |
| Nicolina S.A. (NCL) | -50,00% |
| Rulmenti S.A. (RBL) | -43,25% |
| Titan S.A. (MPN) | -15,49% |
| UCM Resita S.A. (UCM) | -15,00% |
| Feleacul S.A. (FEL) | -13,27% |
2. IMPORTANT LOCAL news
- Romania's GDP rose in the second trimester 9.3% compared to the similar period of 2007, placing the annual growth after 6 months at 8.8%. Both values represen record highs for Romania. The estimared GDP for the first semester of 2008 was 195.76 billion RON, up 8.8% coompared to the first semester of 2007. In the second trimester of 2008 the GDP was 109.01 billion RON up in real terms by 9.3% announced the National Institute for Statistics. According to the european bureau for statistics, Eurostat, Romania registere in the second trimester of the year a 9.3% annual economic growth 6 times the average of the 27 european states which was 1.6%.
- Foreign investors have brought circa 11.2 million RON (3.2 million euros) to the Stock exchange in August being net buyers for the second month in a row. Given all of these, the indexes have lost up to 10%, making it the third consecutive month of drops, given the lack of buying support from local investors. The foreigners have bought shares valuing 49.2 mil. Euros in August and sold shares worth 46 mil. Euros. These values are close to the ones registered in July, the percentage of foreign investor acquisitions in the transactioned total rose to circa 40% compared to 30% in the past few months, given that ther local investors have transactioned small volumes. The acquisitions of Romanian investor in August were circa 74.2 mil. Euros, the lowest value of the year and their sales totalled 77.8 mil. Euros.
- Between January and July, the indexes of construction works have grown 32.3%, compared to the similar period in 2007. Residencial buildings have grown 33.3%, engineering buildings 31.2% and non-residential buildings 34.3%, according to data from the National Institute for Statistics (INS). Structurally the indexes have also registered growth, maintanence and current repairs gave grown 32.8%, capital repairs grew 30.4% and new construction works registered a 32.6%. increase. Compared to June, in July the indexes grew by 4.4%.
3. IMPORTANT INTERNATIONAL news
- The U.S. government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation’s mortgage debt, a person briefed on the matter said Friday night. The news also followed a report Friday by the Mortgage Bankers Association that more than 4 million American homeowners with a mortgage, a record 9 percent, were either behind on their payments or in foreclosure at the end of June. Fannie Mae and Freddie Mac lost a combined $3.1 billion between April and June. Half of their credit losses came from these types of risky loans with ballooning monthly payments.
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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 08 2008.pdf, 91 Kb
