CAPITAL MARKET MOVING NEWS
POLITICS
The Constitutional Court of Romania (CCR) decided on Friday (ec. 6) to annull the first round of the country’s 2024 presidential election process. The second round had been scheduled for Sunday (Dec. 8) That will now not take place. Some 951 voting stations had already opened abroad on Friday for the runoff for Romania’s large diaspora but had to be halted. “The electoral process to elect Romania’s president will be fully re-run, and the government will set a new date and … calendar for the necessary steps,” the court said in a statement. A new date will now be set to rerun the first round.
ECONOMY
-Romania’s Fiscal Council president Daniel Dăianu indicates, in the latest “Romania – Eurozone MONITOR” report published on the website of the National Bank of Romania (BNR), that the macroeconomic imbalance is a major problem in the country. According to Daianu, the budget deficit is likely to exceed 8% of GDP in 2024.
-In October 2024, compared with October 2023, the calendar adjusted retail sales index increased by 2.1% in the EU. The highest annual increases in the total retail trade volume were recorded in Luxembourg (+15.4%), Romania (+10.2%) and Croatia (+6.7%), Eurostat data showed.
FINANCE
-The Ministry of Finance (MF) carries out between December 9th and 18th a new public offering for Fidelis government bonds dedicated to the retail investors. It is the sixth offering carried out on the Bucharest Stock Exchange (BVB) this year and the 20th since the resumption of the Fidelis program in July 2020. This new IPO consists of six issues, two in EUR and four in RON.
-BRD Groupe Societe Generale, was designated “Bank of the Year in Romania” for the second consecutive year, during a ceremony held on Wednesday (Dec. 4) in London, by the monthly international financial affairs publication “The Banker” owned by The Financial Times. The awards evaluate the world’s top financial institutions based on their ability to deliver profits, strategic advantages and serve their markets.
-ING Hubs Romania has announced that Dennis Rijksen will succeed Marian Ion as head of the organization as of 1 January 2025. ING Hubs Romania offers 130 services in software development, data management, non-financial risk & compliance, audit, and retail operations to 24 ING units.
COMPANIES
-Praktiker Real Estate has completed the acquisition of the Muntenia Business Center office building, in central Bucharest, for about EUR8 million from local peer Voulthema Property Developer, part of Longshield Investment Group.
-Romanian do-it-yourself (DIY) chain Dedeman will be opening a new store on Dec 6, in the northeastern town of Pascani, Iasi County, following an investment of nearly EUR15 million.
-Four out of ten participants in the most recent survey conducted by local online recruitment platform eJobs.ro said that their main plan for next year, from a professional point of view, was to land a new job, either because they wanted to change their current job or because they were unemployed in 2024.
TODAY’S MARKET DATA
EXCHANGE RATE OF THE NATIONAL LEU CURRENCY
| EUR 4.9773 | GBP 6.0025 |
| USD 4.7033 | CHF 5.3554 |
| BGN 2.5448 | MDL 0.2579 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 2.97% BET-TR 2.97% BET-FI 2.51% BET-NG 2.63% BET-EF 2.89% BET-XT 2.89%, BET-BK 2.99% BET AeRO 4.15% ROTX 2.86% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded sharply higher on Friday with the benchmark BET index jumping 2.97%. Investment fund Fondul Proprietatea led blue-chip gainers surging 6.57%. The total equity turnover of the BVB stood at 137.25 million lei bourse data showed. |
BET Index Constituents
| Company | Price | Change (%) |
|---|---|---|
| ANTIBIOTICE S.A. | 2.6700 | 2.69 |
| AQUILA PART PROD COM | 1.1900 | 6.25 |
| BANCA TRANSILVANIA S.A. | 27.6500 | 3.95 |
| BRD – GROUPE SOCIETE GENERALE S.A. | 18.3000 | 2.23 |
| C.N.T.E.E. TRANSELECTRICA | 38.0000 | 5.56 |
| Digi Communications N.V. | 63.0000 | 4.65 |
| FONDUL PROPRIETATEA | 0.2920 | 6.57 |
| MedLife S.A. | 5.6400 | 1.62 |
| OMV PETROM S.A. | 0.7205 | 2.71 |
| ONE UNITED PROPERTIES | 0.4000 | -0.74 |
| Premier Energy PLC | 19.3000 | 1.05 |
| PURCARI WINERIES PUBLIC COMPANY LIMITED | 14.4400 | 4.49 |
| S.N. NUCLEARELECTRICA S.A. | 40.7000 | 5.71 |
| S.N.G.N. ROMGAZ S.A. | 5.2500 | 3.96 |
| S.N.T.G.N. TRANSGAZ S.A. | 21.7500 | 4.57 |
| S.P.E.E.H. HIDROELECTRICA S.A. | 120.3000 | 0.67 |
| SOCIETATEA ENERGETICA ELECTRICA S.A. | 12.5800 | 2.11 |
| Sphera Franchise Group | 37.5000 | 4.75 |
| TERAPLAST SA | 0.3940 | 2.47 |
| TTS (TRANSPORT TRADE SERVICES) | 3.9100 | 1.82 |
