Updated after market close
ECONOMY
-In September 2024, industrial production prices for the total (domestic market and non-domestic market) decreased by 1.8% compared to August 2024, the National Institute of Statistics data showed.
-Arrears to the consolidated general budget grew by 6% in September 2024 reaching 585.7 million lei, up from 552.1 million lei in August, data published by the Ministry of Finance (MF) showed.
FINANCE
-UniCredit and Alpha Services and Holdings announced the completion of the acquisition of majority stake by UniCredit in Alpha Bank Romania. The merger will bring together two complementary banks, both with long-standing relationships and expertise in the Romanian market.
-Romania’s Finance Ministry raised RON500 million from banks on Monday (Nov 4), through a bond issue at at an average yield of 6.04%, the National Bank of Romania announced.
-Garanti BBVA and the European Investment Fund (EIF) inked an agreement to provide guarantees of minimum EUR30 million to enhance competitiveness and sustainability of Romanian companies.
-Germany’s Signal Iduna Asigurare Reasigurare, the leader of the Romanian health insurance market, signed an agreement for the acquisition of a majority stake in Garanta Asigurari whose main shareholder is The Ethniki, Hellenic General Insurance Company, the oldest and biggest insurance company in Greece.
-About 63% of Romanians who want to apply for mortgages choose houses completed after 2010 or in construction and 40% are working in a multinational company, an analysis by online broker Ipotecare.ro and SVN Credit Romania revealed.
COMPANIES
-E-commerce company eMAG Group expects over RON800 million in 2024 Black Friday sales, eMAG representatives told a press conference organized by one of the largest online retail networks in Central and Eastern Europe.
.-The total business figure of the IT industry exceeded 15.5 billion euros in 2023, up 12.26% compared to 2022, a study by the Patron Association of Software Industry and Services (ANIS), conducted with the support of a research group from the Academy of Economic Studies, Bucharest revealed.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9750 | GBP 5.9304 |
| USD 4.5669 | CHF 5.2973 |
| BGN 2.5437 | MDL 0.2548 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET % 0.16, BET-TR 0.16%, BET-FI 0.05%, BET-NG 0.18%, BET-EF 0.21%, BET-XT 0.13%, BET-BK 0.07%, BETAeRO -0.33%, RO-TX 0.15% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed higher on Tuesday mirroring the trend across Europe where investors digested mixed earnings updates and economic data, and are looking ahead to the monetary policy announcements from the Bank of England and the Federal Reserve. |
