TODAY’S NEWS
ECONOMY & COMPANIES
-Romania’s foreign exchange reserves stood at EUR53.08 billion last month, lower than the EUR53.34 billion in April, central bank data showed.
–Retail trade volume in Romania advanced 3.4% in the first four months of 2023 y-o-y, according to the National Institute of Statistics (INS) data.
–Construction materials’ prices went up by 3.1% in Romania in the first quarter of 2023 y-o-y, Ziarul Financiar reported.
–Romanian state-owned hydropower producer Hidroelectrica promises to increase its value by maintaining a high dividend payout ratio between 90% and 100% ahead of its planned IPO while the investments will be financed from external sources, ZF reported citing the company’s 2022 Supervisory Board Report. The company announced today that its shares are expected to be admitted to trading on the regulated market of the Bucharest Stock Exchange (BSE) next month. Minority shareholder Fondul Proprietatea plans to apply for admission to trading of its 19.94% stake, as the IPO will take place after the approval of the prospectus by the financial regulator, Hidroelectrica said in a press release.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9615 | GBP 5.7558 |
| USD 4.6393 | CHF 4.1136 |
| BGN 2.5367 | MDL 0.2602 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 11.2% (April 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.24%, BET-TR 0.74%, BET-FI -0.37%, BET-NG 0.05%, BET-XT 0.15%, BETXT-TR 0.67%, BET-BK 0.19%, RO-TX 0.29%, BETAeRO -0.61% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed in the green on Tuesday in line with rest of Europe despite downbeat sentiment in other world markets. |
