ECONOMY
-Romania saw the biggest increase (2.8%) in construction works in the EU in September compared with the previous month, followed by Italy (2.2%), Spain and Slovenia (both up 1.7%) data published on Wednesday by Eurostat showed. In September 2024, compared with August 2024, seasonally adjusted production in construction decreased by 0.1% in both the euro area and the EU.
-The number of construction permits issued for residential buildings located in Bucharest has almost halved, while the total usable area authorised for construction plunged 62% in the last three years, according to the “SVN Romania Residential Market Drive” report released by real estate consultant SVN Romania.
FINANCE
– High interest rates and continued lending helped Romania’s banking sector generate a RON11.5 billion record high net profit in January-September 2024 up around 10% on an annual basis, the National Bank of Romania (BNR) data showed.
-The European Investment Bank (EIB) is lending Romanian energy distributor Delgaz Grid €200 million to upgrade the electricity network in the country’s northeastern region of Moldova. The EIB credit is part of a €630 investment programme by Delgaz Grid to improve a power system that serves more than 1.5 million households and businesses.
-State-owned Nuclearelectrica, placed with Exim Banca Romaneasca a term deposit without extension in the amount of RON478.8 million, the nuclear power producer informed its shareholders and investors via a report to the Bucharest Stock Exchange on Wednesday (Nov 20).
COMPANIES
– US tech giant Amazon is closing its Machine Learning department (AGI Data Services) in Romania, a decision that will affect 400 employees, Doru Supeala, a marketing, management and business consultant said in a post on Facebook, citing an official statement of the company. In 2023, Amazon laid off 464 employees at its software development centers in Romania, according to official data.
-Bucharest-listed TeraPlast, the largest polymer processor in Southeast Europe, has notified shareholders and investors of having closed the acquisition of Optiplast, the third largest producer of flexible packaging in Croatia, following shareholder approval on Nov. 14.
-Romanian company Sinteza S.A. and American defense and aerospace manufacturer Lockheed Martin inked a Memorandum of Intent on Wednesday (Nov. 20), for the use of GridStar Flow technology in the production of negative electrolyte for long-term storage batteries. Through this collaboration, Sinteza S.A. will build a factory worth 50 million euros in Oradea, in northwest Romania.
-Trendyol, Turkey’s largest e-commerce platform majority-owned by Chinese Alibaba Group, has established a regional logistics centre in Romania, aiming to serve all of southeastern Europe from the new logistics hub. When fully operational in 2025, it will employ 250 people.
-The 2024 Autumn Edition of Romania’s Tourism Fair (TTR) kicked off on Thursday at Romexpo, where over 100 participating companier offer destinations worldwide. Participants include tour operators from Romania, Bulgaria, Turkey, Greece, Israel, Austria, Hungary, Egypt, Vietnam, and Italy.
TODAY’S MARKET DATA
EXCHANGE RATE OF THE NATIONAL LEU CURRENCY
| EUR 4.9766 | GBP 5.9743 |
| USD 4.7317 | CHF 5.3535 |
| BGN 2.5445 | MDL 0.2593 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET % 0.63% BET-TR 0.63% BET-FI 0.61% BET-NG 0.92% BET-EF 0.69% BET-XT 0.59%, BET-BK 0.41% BET AeRO -0.46% ROTX 0.68% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed higher on Thursday extending their gains from the previous session and mirroring the trend across Europe as investors focused on earnings and economic data. |
BET Index Constituents
| Company | Price | Change (%) |
|---|---|---|
| ANTIBIOTICE S.A. | 3.3100 | 0.61 |
| AQUILA PART PROD COM | 1.3500 | -1.46 |
| BANCA TRANSILVANIA S.A. | 28.4500 | 0.35 |
| BRD – GROUPE SOCIETE GENERALE S.A. | 19.0000 | 0.00 |
| C.N.T.E.E. TRANSELECTRICA | 41.3000 | -0.24 |
| Digi Communications N.V. | 66.0000 | -0.30 |
| FONDUL PROPRIETATEA | 0.3284 | 1.67 |
| MedLife S.A. | 6.1800 | 0.00 |
| OMV PETROM S.A. | 0.7350 | 1.80 |
| ONE UNITED PROPERTIES | 0.4865 | 0.52 |
| Premier Energy PLC | 19.6000 | -0.51 |
| PURCARI WINERIES PUBLIC COMPANY LIMITED | 15.0200 | 0.27 |
| S.N. NUCLEARELECTRICA S.A. | 42.4000 | 0.24 |
| S.N.G.N. ROMGAZ S.A. | 5.3000 | 0.00 |
| S.N.T.G.N. TRANSGAZ S.A. | 23.7000 | 0.42 |
| S.P.E.E.H. HIDROELECTRICA S.A. | 120.9000 | 0.75 |
| SOCIETATEA ENERGETICA ELECTRICA S.A. | 12.9200 | 2.05 |
| Sphera Franchise Group | 40.3000 | 1.00 |
| TERAPLAST SA | 0.4485 | 0.45 |
| TTS (TRANSPORT TRADE SERVICES) | 5.0200 | -0.20 |
