Bucharest Stock Exchange opens Monday's trading session with significant declines

The Bucharest Stock Exchange (BVB) opened Monday's trading session down on all indices, with turnover totaling 47.81 million RON (9.6 million EUR), after 35 minutes of trading.

The main index BET, which shows the evolution of the 20 most liquid companies, registered a depreciation of 3.97%, while the BET-Plus index, which shows the evolution of the 43 most liquid shares of the BVB, registered a decrease of 4.10%.

At the same time, the extended blue-chip index BET-XT of the top-liquid 25 issuers lost 4.12%, while the return benchmark index for stock investment funds BET-BK went down by 4.55%.

The BET-FI index of the five financial investment companies opened down 3.67%, while the BET-NG index of 10 companies in the energy and utilities sector fell 3.45%.

According to BVB data, COMCM (+8.15%) and Artego (+7.88%) recorded the highest increases in share value.

On the other hand, the shares of Altur (-9.09%), Medlife (-8.44%) and Carbochim (-8.10%) were down.

“We have to be concerned (due to the turbulence in the global markets – n.ed.), but not panic. For Romania, the bad part of such episodes of turbulence in the financial markets is that we are quite exposed, especially in light of the relatively high dependence on capital inflows to finance the budget deficit. A possible flight of capital to safer markets could leave us exposed in the short term,” Valentin Tataru, chief economist of ING Bank, told HotNews.ro.

The Board of the National Bank of Romania (BNR) is scheduled to convene in a monetary policy meeting on August 7.

Developed by Codecraftsman