ECONOMY
-Currency volatility is expected to return in 2024, Brussels-headquartered financial institution iBanFirst warned in its 2024 Foreign Exchange Market Outlook released this week.
-Risks continue to intensify (financial stability, social and political risks), inflation remains well above targets set by central banks while the situation on the oil market has became tense again following the war in Israel, Coface Barometer reveals.
COMPANIES
-Bucharest-listed investment fund Fondul Proprietatea has received approval from the Financial Supervisory Authority (ASF) for a new buy-back program of up 12% of its share capital, the Fund’s manager, Franklin Templeton International Services, said in a report to the Bucharest Stock Exchange (BVB) on Tuesday.
-Eight in ten companies in Romania, see advice during tax raids as being important or very important, according to a survey commissioned by Bucharest-based Nowium, a provider of integrated accounting, taxation, consulting, legal, payroll and transfer pricing services.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9628 | GBP 5.6883 |
| USD 4.6956 | CHF 5.2397 |
| BGN 2.5374 | MDL 0.2566 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.25%, BET-TR 0.24%, BET-FI 2.10%, BET-NG 0.25%, BET-XT 0.32%, BETXT-TR 0.30%, BET-BK 0.50%, RO-TX 0.29%, BETAeRO 0.01% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed in the positive territory on Wednesday. Traders wait to see if the European Central Bank would raise rates on Thursday against the backdrop of weakening economic activity. |
