ECONOMY
-Romania recorded the 6th highest agricultural growth in the EU in 2023, Eurostat data revealed. The highest growth rate was recorded in Hungary (+26%). EU agricultural production was valued at €537.1 billion in basic prices, down 1.5% from 2022 (€545.4 billion).
-About three thirds of Romanians (72%) are worried due to rising prices, and most of them will allocate a lower budget per purchase, compared to 2023, according to the 2024 Holiday Shopping Report, the latest Offerista study carried out at European level.
-In September 2024, the volume of construction works increased, as gross series, by 6.1% compared to
August 2024 and was up 2.8% as adjusted series according to the number of working days and to
seasonality, the National Institute of Statistics (INS) said.
-In the first nine months of 2024, the turnover in market services provided to the population decreased compared to the same period last year, both in gross terms by 1.5% and in seasonally adjusted terms, taking into account working days and seasonality, by 1.3%, INS data showed.
-Trade in motor vehicles and motorcycles grew by 1.6%, as a gross series, in January-September 2024 compared to the same period a year ago, and by 1.7% as series adjusted depending on the number of business days and seasonality, the INS said.
FINANCE
– Fitch Ratings has upgraded Banca Transilvania S.A.’s (Transilvania) Long-Term Issuer Default Rating (IDR) to ‘BBB-‘ from ‘BB+’ and Short-Term IDR to ‘F3’ from ‘B’. The Outlook on the Long-Term IDR is Stable. The Viability Rating (VR) has been upgraded to ‘bbb-‘ from ‘bb+’
-Romanians prefer bank deposits, but the level of participation in the capital market is low, Romania having the lowest level of financial literacy in the EU. These are the findings of of the research project on the saving and investment behavior among the Romanian population, conducted by Raiffeisen Bank and the Bucharest Academy of Economic Studies.
COMPANIES
– At the end of September 2024, the Romanian mergers and acquisitions (M&A) market recorded transactions worth $1.7 billion, up from the $134 million recorded during the same period in 2023, according to the global M&A market report by Boston Consulting Group (BCG).
-The Women in Transport&Tourism Association (WTTA), the first Romanian, European and global association of women in transport and tourism, was officially launched in Bucharest, aiming to provide greater visibility and a stronger voice for all professionals, for women working in this industry, and to promote excellence and equity, the president of the organization, Claudia Tapardel, stated on Wednesday.
-More than half (53%) of Romanian tech entrepreneurs target their initiatives towards international markets, something that demonstrates adaptability, strategic planning and a global vision, the results of a study titled “Romanian Tech Entrepreneur Profile”, conducted by EY Romania and Endeavour, reveals.
-Entrepreneurs in Romania, whether they are just starting out or have a growing business, correctly perceive the business opportunities in the market but fear of failure and difficult access to finance are seen as a significant barrier to business development. These are two of the main conclusions drawn from the 2022-23 Country Report on Entrepreneurship – research conducted by the UBB-FSEGA research team, within the international project Global Entrepreneurship Monitor (GEM).
TODAY’S MARKET DATA
EXCHANGE RATE OF THE NATIONAL LEU CURRENCY
| EUR 4.9762 | GBP 5.9713 |
| USD 4.7170 | CHF 5.3244 |
| BGN 2.5443 | MDL 0.2594 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET % 0.30% BET-TR 0.30% BET-FI 0.51% BET-NG 0.07% BET-EF 0.28% BET-XT 0.24%, BET-BK 0.26% BET AeRO 0.03% ROTX 0.29% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed in the green on Wednesday bucking the trend across Europe where markets ended the session lower as traders assess simmering geopolitical tensions. |
BET Index Constituents
| Company | Price | Change (%) |
|---|---|---|
| ANTIBIOTICE S.A. | 3.2900 | -0.60 |
| AQUILA PART PROD COM | 1.3700 | 0.37 |
| BANCA TRANSILVANIA S.A. | 28.3500 | 0.89 |
| BRD – GROUPE SOCIETE GENERALE S.A. | 19.0000 | 0.53 |
| C.N.T.E.E. TRANSELECTRICA | 41.4000 | 1.22 |
| Digi Communications N.V. | 66.2000 | -0.30 |
| FONDUL PROPRIETATEA | 0.3230 | 1.57 |
| MedLife S.A. | 6.1800 | 0.00 |
| OMV PETROM S.A. | 0.7220 | 0.49 |
| ONE UNITED PROPERTIES | 0.4840 | 0.00 |
| Premier Energy PLC | 19.7000 | 0.00 |
| PURCARI WINERIES PUBLIC COMPANY LIMITED | 14.9800 | 0.54 |
| S.N. NUCLEARELECTRICA S.A. | 42.3000 | -0.59 |
| S.N.G.N. ROMGAZ S.A. | 5.3000 | 0.00 |
| S.N.T.G.N. TRANSGAZ S.A. | 23.6000 | 2.39 |
| S.P.E.E.H. HIDROELECTRICA S.A. | 120.0000 | -0.83 |
| SOCIETATEA ENERGETICA ELECTRICA S.A. | 12.6600 | 0.64 |
| Sphera Franchise Group | 39.9000 | -0.25 |
| TERAPLAST SA | 0.4465 | -0.78 |
