TODAY’S NEWS
ECONOMY & COMPANIES
–Retail investors placed orders to buy 3.4 million shares of Hidroelectrica on June 23, the first day of the company’s IPO on the Bucharest Stock Exchange, spending RON382 million (at a price of RON112/share) or EUR77 million.
–The European Commission greenlighted the acquisition of Enel Romania by Greece’s Public Power Corporation, which was last year’s largest deal on the Romanian market, worth EUR1.9 billion.
–Members of the Association of Large Retailers in Romania (AMRCR) reaffirmed their willingness to work together with the Romanian Government to implement a voluntary mechanism to reduce prices on a number of basic food items across the entire product chain – producers, processors, retailers, Agerpres reported.
–Hungarian banking group OTP has reportedly picked up Banca Transilvania, Exim Banca Romaneasca and UniCredit to continue talks for the acquisition of OTP Bank Romania, Ziarul Financiar reported citing sources familiar with the matter.
–Romania expects European Commission’s decision on the second financial package of about EUR 29.7 million for farmers by June 30, Adevarul reported.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9556 | GBP 5.7899 |
| USD 4.5473 | CHF 4.0840 |
| BGN 2.5337 | MDL 0.2521 |
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 -0.35%, BET-TR -0.35%, BET-FI -0.95%, BET-NG -0.38%, BET-XT -0.43%, BETXT-TR –0.43%, BET-BK -0.61%, RO-TX -0.46%, BETAeRO –0.42% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded in the red on Monday mirroring the trend across Europe as worries about growth amid rising interest rates, rendered the mood cautious. German business sentiment pointed to the likelihood of a longer recession, further weighing on sentiment. |
