Updated midday and after market close
POLITICS
The electoral campaign for the parliamentary elections starts on Friday, at 00:00 and ends on November 30, at 7:00 a.m. Parliamentary elections are scheduled to be held in Romania on 1 December 2024.
ECONOMY
-In October 2024, Romania’s Economic Sentiment Indicator (ESI), compiled by the European Commission based on the responses of managers in the main sectors of the economy, as well as consumers, hit the highest level (105.9) since the Covid crisis. The ESI is scaled to a long-term mean of 100 and a standard deviation of 10. Thus, values above 100 indicate above-average economic sentiment and vice versa.
-The number of building permits issued for residential buildings, increased by 3.3% in the first nine months of 2024, the National Institute of Statistics (INS) data showed.
-In September 2024, the seasonally adjusted unemployment rate was estimated at 5.5%, the
same value as in August 2024, INS said.
-About 57% of Romanians plan to make purchases in this year’s edition of Black Friday, the study “Black Friday Shopping – Plans and Expectations from a Consumer Perspective 2024” by market research agency MKOR reveals.
FINANCE
-Banking group BCR, a member of Austria’s Erste Group, recorded a net profit of 2.217 billion lei (446 million euros) in the first nine months of 2024, up 30.6% on an annual basis.
COMPANIES
-Bucur Obor company, the operator of Bucharest’s shopping center of the same name in the east of the Romanian capital, posted RON18.2 million turnover in the first nine months of 2024, compared to RON17.8 million in the same period a year ago.
-Dutch group Damen wants to terminate the contract with Mangalia Shipyard Radio Romania News reported on Wednesday. The fate of the Romania’s biggest shipyard will most likely be decided next month.
-According to a new study by ASFRU, one of the most prestigious HR associations in Romania, 31% of companies in Romania are hiring, while 28% are planning layoffs in 2025.
-Germany’s pharma group Stada inaugurated a major new production site and supply-chain hub in Turda, Cluj county.
-Vodafone Romania and rival telcom Digi Communications said on Thursday they had signed a memorandum of understanding with Hellenic Telecommunications Organization (OTE), to buy its subsidiary Telekom Romania Mobile (TKRM).
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9745 | GBP 5.9436 |
| USD 4.5757 | CHF 5.2850 |
| BGN 2.5434 | MDL 0.2564 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET % -0.13, BET-TR -0.13%, BET-FI 0.00%, BET-NG -0.51%, BET-EF -0.24%, BET-XT -0.19%, BET-BK 0.13%, BETAeRO -0.49%, RO-TX -0.18% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed mostly lower on Thursday mirroring the trend across Europe as the new reports on inflation showed an increase to 2% in the euro area and 0.9% in Italy. Meanwhile, eurozone unemployment rate came it at 6.3% in September. |
