about us | newsletter | contact | archive | members area
Mircea Turdea, Farmec
The cosmetics industry is an extremely dynamic field and requires active players»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

  Exclusive    Bucharest Stock Exchange starts slow with Prodplast, Property Fund and Oltchim announcing changes

March 2012

1 Photos

Today the Romanian markets started lower, affected by the negative sentiment in the capital markets in respect to a solution to the bond swap deal  between creditors and the Greek state. Weighing on this, were fears that Greece might trigger the action clause collective which will imply a credit event with catastrophically implication for the financial sector.
At mid-day the indices at Bucharest Stock Exchange recovered a little and were:
 BET at -0,86%
 BET-FI at -0,82%

Other news impacting the Romanian stock markets:
- Prodplast SA (PPL) was reported of buying over 800.000 shares of SIF Oltenia (SIF5) in the last three days with a total value around EUR 260.000
- Property Fund (FP) announced yesterday that they've selected Citigroup Global Markets Limited as the exclusive intermediary to facilitate possible transactions of several unlisted Romanian power and gas distribution and supply companies held by Property Fund portfolio (EON Moldova Distribution, EON Gas Distribution, EON Energy Romania, ENEL Distribution Muntenia, ENEL Energy Muntenia, GDF Suez Energy  among others). The total value of this holdings being EUR 527.6 million or approximately 15% of the Property Fund Net Asset Value.
- Oltchim (OLT) announced they've approved the resignation of the President of the Board Constantin Dascalu and was replaced by the Magyar Democrat Party politician Karoly Borbely
The daily graphic of BET index shows that it reached a resistance line around 5.350 points, exactly where it was the previous down break. The MACD indicator being very high and just turning down implies some kind of correction is ahead.

The international markets entered into a corrective phase after an impressive uptrend which started at the end of November 2011 with average gains of 15% on the popular indexes like the American Dow Jones or German DAX.
At the end of this week it will be released the employment situation in USA for the month of February, in which traders and investors will find out how many new jobs have been created and what is the latest figure for the unemployment rate. This is the most awaited monthly economic figure on the capital markets. Depending on its outcome the release instantly moves the Bond Markets, Commodities, US Dollar Index, Equity Markets and inflation expectations.
Also on Thursday night it will be released in China the latest inflation figure for the month of February. Expectations in the markets are for a cooling down of price pressure in the Chinese economy to a 3.6% change year over year of the Consumer Price Index.

This info is provided by Vasile Szakacs, Head Analyst and owner of www.consultantabursa.ro



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  6538 Views
Daily Info
President Iohannis: The Romanian society is mature and active and needs a state to match it

President Klaus Iohannis stated, on the occasion of the annual meeting with the heads of diplomatic missions accredited in Bucharest, that the Romanian society is a mature one...

Impact appoints Bogdan Oslobeanu as new general director

Impact Developer & Contractor SA board appointed Bogdan Oslobeanu as general director starting March 1.

CTP expands its management team to support business growth

CTP announces changes and the expansion of its management team, both local and international, to continue the development of the organization and to support the accelerated bu...

Coldwell Banker Romania appoints Bogdan Voica as CEO

Coldwell Banker Romania, one of the biggest real estate consultants active on the local market, appointed Bogdan Voica as CEO, a consultant with over 15 years of experience on...

Socar has opened the second filling station in Brasov and reaches a total of 39 stations

Socar has opened its 39th filling station in Romania. This is the second filling station to be launched under Socar brand in Brasov city, one of the Romanian tourism centers. ...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
Contract for the purchase of 227 Piranha V armored personnel carriers, signed in presence of PM Tudose

The contract for the purchase of 227 Piranha V armored personnel carriers was signed on Friday in the presence of Prime Minister Mihai Tudose, Deputy Prime Minister Marcel ...

President Iohannis: The Romanian society is mature and active and needs a state to match it

President Klaus Iohannis stated, on the occasion of the annual meeting with the heads of diplomatic missions accredited in Bucharest, that the Romanian society is a mature ...

Iohannis: Justice independence, public positions' integrity are constitutional values not to be negotiated

Promoting the rule of law and Justice independence, fighting against corruption, ensuring integrity in public positions and dignities are constitutional values that cannot ...

PM-designate Dancila: "It's important to implement governing programme"

Prime Minister-designate Viorica Dancila stated that it's important to put into practice the governing programme, but also 2018- the Centennial Year and prepare to take ove...

Mihai Tudose announces his resignation as prime minister

Mihai Tudose announced on Monday evening, at the end of the Social Democrat Party (PSD) National Executive Committee (CExN) meeting, that he resigns as prime minister of Ro...

Ministry of Public Finances set to issue Euro-bonds worth 8 billion Euro in the next two years

The Ministry of Public Finances (MFP) contemplates issuing Euro-bonds worth approximately 8 billion Euro (equivalent) over 2018-2019, in the context of the implementation o...

Garanti Bank expects a four per cent GDP growth rate in 2018

Garanti Bank estimates that the growth rate of the gross domestic product (GDP) could reduce speed in 2018, to four per cent, from 6.5 per cent in 2017, mainly due to a slo...