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Stock brokers: The Bourse will stay in the province of minimum values

Romanian stock brokers are expecting the local capital markets to amplify this week the shock of any good or bad news from the world's big economies. They say news from abroad is the main factor influencing the local stock investors.

'I am expecting the market to wander in this province of minimum values with the same sensitiveness to foreign events, which after all are affecting all the global markets,' says Estinvest brokerage analyst Alin Cucos.

The local media report that European leaders discussed last week the solutions that are to be adopted to recover the financial system, including coordinated oversight of the European markets, which will be left to the member state to carry out. Romanian stockbrokers say the measures discussed will not affect the capital markets in the short run.

'We will continue to be influenced by external factors, but I doubt the discussions and intentions of the EU leaders will change the short-term market trends,' says Estinvest Director General Lucian Isac. He argues that capital injections carried out daily in Europe and the US have a positive effect on the capital markets, but the effect is short living.

Last week witnessed significant drops in all the indices of the Bucharest Stock Exchange (BVB), contrary to the external developments and the developments in the early parts of the trade sessions. One of the most significant factors having deepened investors' mistrust was the suspension from trade of securities of Financial Investment Company Transilvania (SIF3) following a decision of the Brasov Court of Appeal on SIF3's latest capital increase.

'The decision of SIF Transilvania generated market uncertainties. As time passes by, SIF3 will stay suspended and confidence among investors will further plummet,' says Chairman of the Association of Capital Market Investors (AIPC) Dumitru Beze.

The BET index reflecting the developments in the ten most liquid BVB stocks declined 3.7 percent in the October 17 session, the BET-C composite index went down 3.3 percent and the BET-FI index of the financial investment companies traded on the BVB had to put up with a 6.3-percent drop.

 

Sursa: http://www.rompress.ro

Tags: stock markets capital bet bvb sif

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