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Bucharest Stock Exchange gets into three drops at world level

BVB lost over 57% compared to the tops registered a year ago, more important drops being registered by Vietnam and Bosnia Herzegovina where stock markets went down by 69%.The BET-XT index, which includes the most liquid 25 companies at BVB registered yesterday a drop by 57% compared to July 2007.

BET-XT, launched in July is at present the most representative index of the exchange, including both big companies from the BET index and SIFs, whose shares have known the highest number of transactions. A year ago the exchange indexes reached historic values, on the background of the general euphoric attitude of the investors and brokers. No analyst anticipated what happened later. On the background of the mortgage crisis in the US, a slight drop began which did not worry anyone. At the beginning of 2008 drops deepened and investors started registering big losses, which made panic in the market and new drops. If we analysed the relation between the stock market and real economy the over 50% drop of BVB indicates the fact that the Romanian economy is in recession. Reality is different, having in view the economic growth of over 8% reported to the first quarter and the growing results of companies listed. A similar situation can be found in Bulgaria, which lost 47% since October although it has a rising economy.Countries confronted with more serious economic problems like the Baltic states, Spain or Italy have less drops of stock markets. In the US and Great Britain which are in recession, the drops of the main stock indexes exceed 20%.Among the exchanges which have resisted the crisis there are Russia, Africa and the Middle East which are close to historic highs. Sursa: http://www.actmedia.ro

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