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Investors on Stock Exchange lose 7 bln euros in January

The international financial crisis, marked by strong decreases on all the world's stock exchanges fully annulled the wins obtained by investors in 2007, daily Ziarul Financiar reports on Monday.

The overall value of companies listed with the Bucharest Stock Exchange (BVB) including the RASDAQ market, dropped in January 2008 by 7 million euros, reaching the level registered at the end of 2006, of 24.5 billion euros. The BET index, which follows the evolution of the most important 10 companies on the Stock Exchange, lost in January 23 percent, after winning 22 percent in 2007, whereas the index of financial investment companies BET-FI lost 20 percent, decreasing below the level registered at the end of 2006. The decreases in the stock exchanges had consequences also on mutual funds which mainly invest in shares, with some losing more than they gained in 2007. Liquid shares were the most affected by the corrections of January. BRD-SocGen, the largest bank listed on the stock exchange lost about a third of capitalization, namely about 1.8 billion euros, while Petrom, the biggest company on the Bucharest stock exchange decreased its market value by over 20 percent, namely almost 1.5 billion euros. The financial investment companies lost on average over 20 percent of the value, about 750 million euros. Foreign investment funds, which have withdrawn important sums from the emerging capital markets, are considered the main responsible for the decreases of January. The most affected by the correction were, however, local investors who entered the Stock Exchange last year, buying shares situating at similar values as in June-July and which in some cases lost 30-40 percent. Brokers and administrators of mutual funds claim the market will recover losses by the end of the year. The news which emerged at end-January on the negative revision of the outlook of Romania's rating by international agency Fitch is not encouraging for the investors on the stock exchange, because a possible reduction of the rating might prompt the exit of some categories of foreign investment funds from the markets, daily Ziarul financiar reports. On the other hand, the financial results reported by companies in 2007 and the good outlooks of economic growth might again attract the foreign investors on the stock exchange, as they could take advantage of the low level of the national currency as against the euro. Sursa: http://www.rompress.ro

Tags: stock which percent investors companies exchange january euros euro brd bvb bet

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