ECONOMY
-Romania’s gross domestic product (GDP) increased by 1.1% in real terms (in unadjusted data) and by 1.9% in seasonally adjusted data in January-September 2023, y-o-y, data from the National Statistics Institute (INS) showed.
-The seven mandatory private pension funds in Romania, known as Pillar II, generated an annual average yield of 18.2% in the last 12 months, for the 8 million Romanian participants, Ziarul Financiar reported.
-Romania’s industrial production dropped 5.1% in unadjusted data in September 2023 on an annual basis, data from the National Institute of Statistics (INS) showed.
AGRICULTURE
Romania produced 4.4 million hectoliters of wine in 2023, up 15% y-o-y, consolidating its position as the sixth largest wine producer in Europe, data collected by the International Organization of Vine and Wine (OIV) and analyzed by local platform Wines of Romania, revealed.
COMPANIES
-Coface launched the 15th annual study of the 500 largest companies in Central and Eastern Europe (CEE), based on 2022 financial data. Romania is represented with 60 companies.
-Over half of foreign companies believe Romania economic environment has deteriorated lately, hitting a 7-year low, according to the latest edition of Business Sentiment Index compiled by the Foreign Investors Council (FIC).
-Deutsche Telekom (Germany) and OTE (Greece) have signed an agreement to sell Telekom Mobile Romania to Clever Media Network, owner of the Romanian broadcaster, Prima TV, telecommunications market sources told Ziarul Financiar.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9704 | GBP 5.6837 |
| USD 4.5823 | CHF 5.1557 |
| BGN 2.5413 | MDL 0.2547 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.33%, BET-TR 0.34%, BET-FI 0.61%, BET-NG 0.53%, BET-XT 0.35%, BETXT-TR 0.36%, BET-BK 0.49%, RO-TX 0.48%, BETAeRO –0.02% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed higher bucking the trends across Europe where markets fell with disappointing earnings from some European and U.S. companies, and concerns about global economic slowdown after weak data from China and Japan, weighing on sentiment. |
