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Euro continued its slight appreciation vs. RON

The Bucharest Stock Exchange closed again in the red, in spite of the significantly positive debut, the same trend being also registered by the European stock exchanges.

The RON depreciated slightly on Wednesday, by 0.04 per cent against the Euro, while the reference rate of the unique European currency rose to RON 3.7635, according to the rate announced by the National Bank of Romania (BNR), on a market marked by successive orders of purchase and sale of foreign currency, for fear from the recession of the American economy, say the dealers. BNR posted a rate 0.0016 bani higher per Euro compared to Tuesday, when it was RON 3.7619. The national currency depreciated from RON 3.74 to RON 3.76 in the early transactions, but the rate returned to RON 3.74/Euro within one hour, in the conditions in which the other currencies from the emerging countries also had an uncertain evolution. The USD was quoted 1.47 bani (0.56 per cent) less compared to the previous day, and BNR posted a rate of RON 2.5811 per USD compared to RON 2.5958 in the previous session. Bucharest Stock Exchange (BVB) closed again on a downward trend, the market being unable to preserve the important gains from the debut of the session. In the afternoon the stock exchange indexes registered again losses which, finally exceeded three percentage points in the investment companies sector. The liquid titles dropped almost two per cent, while the general index depreciated over one per cent, according to The Money Channel TV. European shares weaken on ECB rate comments Europe’s main stock markets turned weaker Wednesday after posting solid gains at the opening, following hints from the European Central Bank that it was not about to cut eurozone interest rates. In Frankfurt the Dax was down 0.39 percent at 6,734.04 points after an earlier surge of 0.63 percent, while in Paris the CAC 40 shed 1.26 percent to reach 4,781.33, a sharp contrast from its 2.19 percent gain at the start of trade. The London FTSE fell 0.89 percent to 5,689.20 following a jump of 0.99 percent at the start. The Fed intervention, aimed at warding off a US recession, soothed investor nerves in Asia where most markets closed Wednesday in positive territory after two days of punishing losses. Asian markets rebounded Wednesday after a surprise US rate cut, but traders and analysts warned the fix could turn out to be only temporary - and that fears of a US recession were far from over. The US Federal Reserve’s 75 basis point cut spurred markets to bounce back from a two-day bloodbath, with many bourses in Asia recouping some of those losses in what has largely been a disastrous year so far. Hong Kong soared as much as eight percent while Australia had a positive close for the first time in more than two weeks, finishing the day ahead 4.4 percent. Many bourses in the region trimmed gains as the day went on. Sursa: http://www.nineoclock.ro

Tags: euro stock percent bnr bvb

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