ECONOMY
Prime Minister Marcel Ciolacu announced at the beginning of the Government meeting on Wednesday (Nov. 27), that the gross minimum statutory wage will increase to RON4,050 from January 1, 2025. It is a 9.5% rise from the current RON 3,700.
FINANCE
-Romania’s ING Bank Romania ended the first nine months of 2024 with RON2.83 billion revenues, up 13.5% on an annual basis, while its loan portfolio increased by 16%. Earlier this month, The National Consumer Protection Authority issued a decision by which ING Bank Romania should recalculate the interest and fees for some 90,000 loans, most of which are already repaid by customers, and return to borrowers the difference estimated by the bank at RON 350 million. The Dutch bank challenged ANPC’s decision in court.
-Fondul Proprietatea announced in a stock market report on Tuesday (Nov 26) that following the passing of the deadline for the submission of applications for a new alternative investment fund manager on Nov. 4 the Board of Nominees (BoN) drafted a list of five candidates: 3 diversified global asset managers; a global infrastructure asset manager; and a Romania-based asset manager. The deadline for candidate submissions is scheduled for 29th November 2024,
COMPANIES
-State-owned nuclear power producer Nuclearelectrica has informed the capital market via a report on Tuesday (Nov. 26) about the conclusion of three electricity wholesale contracts with supplier Energy Distribution Services.
-Electrica, the only listed Romanian company in the field of electricity distribution and supply in Romania, has informed its shareholders and investors that, during the meeting held on Tuesday (Nov. 26) the company’s Board of Directors decided to extend the mandate of Chief Executive Officer (CEO) of Alexandru-Aurelian Chirita from January 1, 2025 until December 31, 2026.
TODAY’S MARKET DATA
EXCHANGE RATE OF THE NATIONAL LEU CURRENCY
| EUR 4.9765 | GBP 5.9642 |
| USD 4.7307 | CHF 5.3612 |
| BGN 2.5444 | MDL 0.2591 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET % -0.08% BET-TR -0.08% BET-FI -0.31% BET-NG 0.20% BET-EF 0.03% BET-XT -0.09%, BET-BK -0.46% BET AeRO -1.10% ROTX -0.05% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed lower on Wednesday mirroring the trend across Europe as the Nuremberg Institute for Market Decisions revealed in its report that consumer confidence in Germany is expected to decline to negative 23.3 points in December. Romanian real estate developer One United Properties led blue-chip decliners. |
BET Index Constituents
| Company | Price | Change (%) |
|---|---|---|
| TTS (TRANSPORT TRADE SERVICES) | 4.5750 | -1.40 |
| TERAPLAST SA | 0.4440 | -1.44 |
| Sphera Franchise Group | 39.8000 | -0.75 |
| SOCIETATEA ENERGETICA ELECTRICA S.A. | 12.8000 | 0.00 |
| S.P.E.E.H. HIDROELECTRICA S.A. | 120.2000 | 0.75 |
| S.N.T.G.N. TRANSGAZ S.A. | 23.1000 | -1.49 |
| S.N.G.N. ROMGAZ S.A. | 5.2700 | 0.19 |
| S.N. NUCLEARELECTRICA S.A. | 41.6000 | -0.24 |
| PURCARI WINERIES PUBLIC COMPANY LIMITED | 15.0800 | 1.34 |
| Premier Energy PLC | 19.5000 | -0.51 |
| ONE UNITED PROPERTIES | 0.4390 | -2.01 |
| OMV PETROM S.A. | 0.7305 | 0.21 |
| MedLife S.A. | 6.1800 | 0.00 |
| FONDUL PROPRIETATEA | 0.3208 | -1.35 |
| Digi Communications N.V. | 64.8000 | -0.31 |
| C.N.T.E.E. TRANSELECTRICA | 39.8000 | -0.38 |
| BRD – GROUPE SOCIETE GENERALE S.A. | 18.3200 | -0.22 |
| BANCA TRANSILVANIA S.A. | 27.9000 | -0.36 |
| AQUILA PART PROD COM | 1.2600 | -0.40 |
| ANTIBIOTICE S.A. | 2.6500 | -0.75 |
