TODAY’S NEWS
ECONOMY
-Romania’s trade balance posted a deficit of EUR18.2 billion in January-August 2023, down 17.2% y-o-y, the National Institute of statistics (INS) data showed.
-The International Monetary Fund (IMF) downgraded its growth forecasts for the Romanian economy to 2.2% in 2023, 0.2 points less than previously expected, according to its latest report.
-The Ministry of Finance (MF) attracted RON 534.8mn and EUR 191.3mn (values amounting to just almost RON 1.5bn – EUR 300mn) through the 13th primary offer for the sale of government securities dedicated to retail investors (FIDELIS) held in the last three four using Bucharest Stock Exchange (BVB) systems, BVB said on Monday (Oct.9).
-The demand for new apartments in Bucharest recorded a 46% rise in the second quarter of 2023 y-o-y, while the offer is minus 26%, an analysis by Imobiliare.ro reveals.
COMPANIES
-Romania’s M&A market saw 183 deals in January-September 2023, down 6.2% y-o-y, a trend also visible in terms of value, with a 19% decline to $4.2 billion, a survey conducted by E&Y reveals.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9658 | GBP 5.7481 |
| USD 4.6803 | CHF 5.1838 |
| BGN 2.5389 | MDL 0.2574 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.85%, BET-TR 0.84%, BET-FI 0.44%, BET-NG 0.32%, BET-XT 0.76%, BETXT-TR 0.76%, BET-BK 0.73%, RO-TX 0.89%, BETAeRO 0.69% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed higher on Wednesday mirroring the upbeat trend across Europe, where markets traded also in the green after clocking their best one-day performance in nearly a year. Bullish trading was boosted by two U.S. Federal Reserve officials who suggested Monday that the recent rise in Treasury yields may reduce the need to raise the Federal Funds rate. |
