TODAY’S NEWS
ECONOMY & COMPANIES
-The Ministry of Finance raised RON817 million from banks on Monday (May 29), selling government paper maturing in 2030, at an annual average yield of 7.09%, the National Bank of Romania data showed.
–Banca Comerciala Romana (BCR), one of the most important financial groups in Romania, lists today on the Bucharest Stock Exchange (BVB), the first international issue of green Eurobonds of a Romanian bank, totaling EUR 700 million.
–Romania’s consolidated general budget deficit increased to 1.72% of GDP after the first four months of this year, namely 27.35 billion lei, from 1.42% of GDP at the end of March, the Ministry of Finance data showed.
–In 2022, international trade in services of Romania diversified and the surplus made with the countries outside the EU grew at 45% of the total, from 33% in 2021, getting closer to the surplus made in the euro zone, an analysis titled ‘Macroeconomics en detail’ by Alpha Bank reveals.
–During the first quarter of 2023, approximately 30% more franchise businesses were opened in Romania y-o-y, according to Franchwise, the largest consulting company in the field of franchises in Romania.
–The unemployment rate stood at 2.92% in April, the National Employment Agency (ANOFM) data showed.
–The shares of the companies Societatea Nationala Nuclearelectrica (SNN), the sole producer of nuclear power and nuclear fuel using CANDU 6 type technology in Romania and One United Properties (ONE), one of the leading green developers of residential, mixed use and office real estate, in Romania will be included starting with 1st of June 2023 in the MSCI Frontier IMI indices according to the announcement made public my MSCI on May 11, 2023. The two new companies will increase Romania’s weight in the MSCI Frontier IMI indices to 11 companies, alongside Banca Transilvania, BRD Groupe Societe Generale, Electrica, Medlife, OMV Petrom, S.N.G.N. Romgaz, Teraplast, Transelectrica and Transgaz.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9640 | GBP 5.7480 |
| USD 4.6302 | CHF 4.1284 |
| BGN 2.5380 | MDL 0.2599 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 11.2% (April 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.10%, BET-TR -0.05%, BET-FI 0.03%, BET-NG -0.08%, BET-XT –0.13%, BETXT-TR –0.02%, BET-BK -0.38%, RO-TX -0.25%, BETAeRO -1.04% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded in the red on Tuesday mirroring the trend across Europe as market watchers focused on the debt ceiling developments in the United States. Hawkish Federal Reserve expectations and concerns around China’s economic recovery also kept investors nervous. |
