POLITICS
The Constitutional Court of Romania (CCR) ordered on Thursday (Nov. 28) the Central Electoral Bureau to recount the valid and invalid votes cast in the first round of Romania’s presidential election, which took place Sunday (Nov. 24). The court’s decision comes after conservative presidential candidate Cristian Terhes, who got 1% of the votes, challenged the ballot’s result. At the same time, the CCR rejected a petition by candidate Sebastian Constantin Popescu to annul the results, citing late submission of the request. The constitutional court is due to reconvene on Friday (Nov. 29) at 2:00 pm. There were 9.46 million votes cast in the election.
ECONOMY
-The national unemployment rate rose to 3.20% in October 2024, and the total number of unemployed people was 255,344, the National Employment Agency (ANOFM) data showe.
-The effects of inflation, the drop in sales, logistical or financing problems have significantly increased the level of payment delays, a fact that risks leading to extensive financial problems in the economic chains, an analysis by Sierra Quadrant reveals.
-For 2025, the Romanian economy is expected to decelerate to a real GDP growth rate of 1.4% with some respondents also forecasting a recession, according to the latest survey conducted by CFA Romania financial analysts. Regarding the EUR/RON exchange rate, around 72% of the participants anticipate a depreciation of the RON in the next 12 months
-Switzerland is currently investing 220 million EUR in Romania in several sectors such as energy, energy efficiency and dual education and is interested in investing in the hospitality industry, Massimo Baggi, the Swiss ambassador to Romania, told the first edition of the conference “INVEST in Hospitality Properties in the CEE Region” on Wednesday (Nov. 27).
FINANCE
-The three-month ROBOR index, a benchmark for consumer loans in Romanian lei, rose on Thursday (Nov. 28) to 5.92%, up from 5.91% in Wednesday, the National Bank of Romania (BNR) data showed.
-Romania’s Finance Ministry raised RON500 million from banks on Thursday (Nov 28, 2024) selling benchmark bonds, at an annual average yield of 7.32%, BNR said.
COMPANIES
-Romania managers expect rising prices in the processing industry, constructions, retail trade and services in the next three months, accoring to a survey conducted by the National Institute of Statistics (INS).
-A recent study, carried out by Atradius reveals that 49% of Romanian companies are affected by late payments in B2B relationships, and their percentage increases as the economic problems worsen.
-OMV Petrom (stock symbol: SNP), the largest integrated energy producer in Southeastern Europe, has announced in a Bucharest stock market report a strategic partnership with NewMed Energy Balkan, a subsidiary of NewMed Energy, to advance exploration efforts in Han Asparuh offshore block in Bulgaria.
TODAY’S MARKET DATA
EXCHANGE RATE OF THE NATIONAL LEU CURRENCY
| EUR 4.9769 | GBP 5.9783 |
| USD 4.7199 | CHF 5.3386 |
| BGN 2.5446 | MDL 0.2585 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET % -1.82% BET-TR -1.82% BET-FI -0.48% BET-NG -1.32% BET-EF -1.57% BET-XT -1.68%, BET-BK -1.81% BET AeRO -0.91% ROTX -1.74% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks extened their losses on Thursday with the BET index plunging 1.82% amid ongoing political turmoil and as the country is also preparing for parliamentary elections on Dec. 1, which will determine the composition of the next government and prime minister . Sphera Franchise Group led blue-chip decliners. |
BET Index Constituents
| Company | Price | Change (%) |
|---|---|---|
| ANTIBIOTICE S.A. | 2.5700 | -3.02 |
| AQUILA PART PROD COM | 1.2150 | -3.57 |
| BANCA TRANSILVANIA S.A. | 27.1500 | -2.69 |
| BRD – GROUPE SOCIETE GENERALE S.A. | 18.1400 | -0.98 |
| C.N.T.E.E. TRANSELECTRICA | 38.3000 | -3.77 |
| Digi Communications N.V. | 63.2000 | -2.47 |
| FONDUL PROPRIETATEA | 0.3148 | -1.87 |
| MedLife S.A. | 5.9500 | -3.72 |
| OMV PETROM S.A. | 0.7250 | -0.75 |
| ONE UNITED PROPERTIES | 0.4220 | -3.87 |
| Premier Energy PLC | 19.5200 | 0.10 |
| PURCARI WINERIES PUBLIC COMPANY LIMITED | 14.8600 | -1.46 |
| S.N. NUCLEARELECTRICA S.A. | 41.4500 | -0.36 |
| S.N.G.N. ROMGAZ S.A. | 5.0700 | -3.80 |
| S.N.T.G.N. TRANSGAZ S.A. | 22.5500 | -2.38 |
| S.P.E.E.H. HIDROELECTRICA S.A. | 120.2000 | 0.00 |
| SOCIETATEA ENERGETICA ELECTRICA S.A. | 12.4000 | -3.13 |
| Sphera Franchise Group | 38.2000 | -4.02 |
| TERAPLAST SA | 0.4335 | -2.36 |
| TTS (TRANSPORT TRADE SERVICES) | 4.4750 | -2.19 |
