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Crisis impact on local companies

The stock market, the real estate and energy sectors were the first to feel the impact of the global financial crisis. Construction materials producers, companies on the car market and media are waiting for things to stabilize, while companies in retail and law fields say they have no reason to worry, Business Standard reads on Thursday.

Bucharest Stock Exchange (BVB) indexes declined by 5 percent on Wednesday, after two days of significant growth, with the worst impact on financial investment companies (SIF), having seen their quotation down by 9.2 percent. Romania's largest company, Petrom, lost some 11 percent.

Besides the listed companies quotation decline, the crisis has not yet impacted on the energy sector, in terms of consumption reduction. However, companies in the field saw their business affected by the depreciation of the Romanian currency leu, which led to higher costs for fuel imports, according to major market players for Business Standard.

A slowdown foreseen for the European market led major companies in the steel industry to take safety measures. ArcelorMittal, global market leader in the field, tries to avoid large stocks by lowering production. However, the decision can be canceled if market conditions changed, a trade union leader at the Galati plant owned by the group said.

 

Sursa: http://www.rompress.ro

Tags: companies crisis market impact sif car bvb

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