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Bucharest Stock Exchange reaches new heights in the first quarter

4/3/2017

 

  • Average trading value reached EUR 11.5 mn in March, double compared to March 2016
  • Main index BET increased by 14% in 2017, largest in EU
  • BET-TR index went up by 15% and reached 10,000 points, highest in the history
  • First quarter had the best investment sentiment in the last 5 years, with the highest number of trading sessions ending on plus

 

Bucharest Stock Exchange (BVB) registered a strongly positive month which, along good January and February data, contributed to new quarterly heights on the local market.

The trading value recorded on the regulated market in March 2017 exceeded RON 1.2 bn, doubled compared to March 2016.  The daily trading value in March is twice higher than the same month of 2016 and increased from EUR 5.5 mn to EUR 11.5 mn. As for the first 3 months, the daily average trading value was EUR 9.6 mn, 61% higher than the same quarter of the last year.

During January-March 2017 the number of transactions and the level of traded volumes have significantly increased. So, there was the best first quarter in the last 7 years as number of transactions (212k).

Another maximum reached on the local capital market is the value of transactions on regulated market. BVB had the best first quarter in the last 6 years with a total traded value of RON 2.4 bn.

BET-TR index, which includes the companies from the BET index and their dividends, reached the 10,000 points for the first time in the history. The trading session from 31st of March closed at a peak level of 10.077,45 points. The BET-TR index had increased with over 15% since the beginning of the year.

Another characteristic of the evolution of the market was that it has registered the most positive sentiment for the last 5 years due to the highest number of trading sessions that closed on plus for the main index of the market. Therefore, BET index value ended on the positive territory on 36 trading sessions in the first 3 months of the year.

Evolution of BET index, which follows the evolution of the most liquid companies listed at BVB has increased by almost 14% in the first quarter and had the best evolution among the markets of the European Union.

 

Country

The main index evolution in the first three months of the 2017

(%)

Romania

+13.89

Poland

+11.71

Bulgaria

+8.11

Czech Republic

+6.46

Hungary

-1.15

Source: BVB, markets

 

"Positive investors’ sentiment was reflected in the number of trading sessions on which the main index BET closed on plus," said BVB CEO Ludwik Sobolewski. "The fact that we had the biggest increase in EU and that we had a higher rate of increase than the biggest market in the region, Poland, it represent a strong signal that investors have in relation with the evolution of the Romanian capital market," added BVB CEO.

"Investor expectations of dividend policy, macroeconomic developments beyond positive economic growth in the European Union, but also the fact that the local market is closer to be promoted to Emerging Markets by FTSE Russell and that three companies meet already the criteria required by MSCI shows us that we are on the road on which Romania matter increasingly more in the region”, said Lucian Anghel, Chairman of BVB.

On the way of upgrade to the emerging market status, Romania is becoming closer to not only meet the criteria of FTSE Russell, but also those imposed by MSCI. "Three companies meet the criteria of the MSCI in order to be upgraded to the emerging market. Romgaz, OMV Petrom and Banca Transilvania meet the criteria related to size and free float, as well as those related to trading. The higher the value of the free float and the higher trade value increases, the more investors will say ”Yes, Romania capital market is an emergent one", said at an event organized by BVB, Carsten Hesse, EME Equity Strategist at Berenberg.