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Stock Exchange headed for first annual loss since 2001

Stock Exchange indices fell sharply over the first six months of the year, amid the turmoil that severely affected international markets.

The BET-FI index that reflects the evolution of the Financial Investment Societies - SIFs lost almost 40 pct, heading for the first year of loss since it was launched. The five SIFs registered an aggregate loss 1.14 billion euro since the beginning of the year. According to analysts, the indices might see a slight trend reversal in the coming period, but they will no longer close on the rise if foreign investors do not come return to the market. The BET index that follows the evolution of the top liquid ten companies lost 32.9 pct in the fist half of the year. The index closed in the negative ten years ago, seeing a loss of 50.17 pct at the end of 1998. The BET-C index fell 30 pct; the previous annual fall thereof was in 1999 and 2001, with 3.25 pct and 4.85 pct respectively. Only five listed companies succeeded in keeping in the positive area in the fist six months of the year, whereas the others lost between 0.9 pct and 92 pct compared to the end of 2007. The best performers are Azomures (+229.15 pct), Socep (+ 48.9 pct), UCM Resita (+6.06 pct), Zimtub (+4.39 pct) and Erste Bank (+3.52 pct). Of the 62 companies taken into consideration by Business Standard, only seven scored loses below 10 pct compared to Q1, when only five companies reported losses of up to 10 pct. Aerostar registered the steepest depreciation (- 92.4 pct), after plummeting 90.2 pct in Q2. A similar evolution was registered in Q2 by SSIF Broker (-74.54 pct), TMK Artrom (-60.83 pct), Transylvania Bank (-56.67 pct) and Bermas (-54.62 pct). Corrections had the severest effect on financial companies, that are actually most sought by foreign investors. Sursa: http://www.rompress.ro

Tags: first since companies bet euro

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