TODAY’S NEWS
ECONOMY & COMPANIES
–The volume of construction works in Romania grew, in unadjusted data, by 10.8% in April 2023 y-o-y and was up 14.8% when adjusted to the number of working days and to seasonality, data from the National Institute of Statistics showed.
–Bucharest-listed OMV Petrom, the largest integrated energy company in South-Eastern Europe, along with its partner Romgaz, announced its decision to develop the Neptun Deep project in the Black Sea.
–Turnover of market services rendered mainly to enterprises increased by 17.5%, as a gross series, in the first four months of this year compared to the same period in 2022, INS data showed.
–The turnover in Romania’s wholesale trade, except of motor vehicles and motorcycles, increased in the first four months of 2023 by 4.7%, INS data showed.
–Starting from Wednesday (June 21), Romanians can invest in Tezaur [Treasury] government bonds, with maturities of 1 and 3 years, with annual interest rates of 6.50% and 7.30%, respectively, according to the Ministry of Finance.
–An explosion was reported at the Petromidia oil refinery in Năvodari, Romania along the coast of the Black Sea on Wednesday. No victims have been reported thus far, the Romanian General Inspectorate for Emergency Situations (IGSU) said.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9627 | GBP 5.7773 |
| USD 4.5433 | CHF 4.0622 |
| BGN 2.5374 | MDL 0.2527 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 10.6% (May 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.57%, BET-TR -0.57%, BET-FI -0.93%, BET-NG -0.90%, BET-XT -0.68%, BETXT-TR –0.67%, BET-BK -0.65%, RO-TX -0.65%, BETAeRO –0.30% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed in the red on Wednesday mirroring the trend across Europe as hotter than expected UK inflation data raised concerns of further tightening by the Bank of England (BoE). |
