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BVB profits up 87pc in 2007

The Bucharest Stock Exchange has recorded a 2007 net profit of RON 29 million (some 8.3 million euros), up 87 percent from 2006, preliminary data disclosed by the BVB indicate.

BVB revenues also advanced 55 percent over the same period, to RON 54 million (some 16.2 million euros). The 2007's rising indicators are said to have been mostly the result of increasing traded values - an increase of 39.5 percent year on year, to RON 13.8 billion (some 4.1 billion euros). Larger trade values are said to have been the result of increased interests of both local and foreign investors' interest in the BVB, given that 2007 was the first year of Romania's full European Union membership. BVB President and CEO Stere Farmache says the main determining factors in the positive developments of the BVB were a rise in the number of investors, a diversification of investor behaviours and a more active presence of non-resident investors, which weight in the total of BVB buying deals on the regulated markets was 40 percent of the total, a record level in the past seven years. BVB capitalisation advanced 17 percent in 2007, to 24.6 billion euros, and it is now exceeding the 30-billion-euro mark, especially as a result of shares in Erste Bank, which is valued at 11.6 billion euros, being floated on the BVB. The BVB is controlled by over 70 stock brokerage companies and some private investors. According to data on the BVB latest dealing, the BVB's market value is standing at 236 million euros. Sursa: http://www.rompress.ro

Tags: bvb billion percent euros million euro

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