From a roar to a whimper
Romania’s bullish stock exchange has taken a thumping – and the bear market will not shift its backside any time soon, writes Michael Bird March 2009 - From the Print Edition
Bucharest’s stock exchange has experienced a bruising since September 2008. While stock exchanges in west Europe absorbed some brutal body-blows and those further east suffered serious concussion, Bucharest was battered at every level with jab, cross, hook and uppercut – then left dazed, bloody and stumbling helpless to its bench, seconds away from a full KO.
After an unbeaten three-year rise, the index of the ten top companies, the BET, lost 73 per cent of its value in 2008 – the steepes...
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