The main index of the Romanian capital market, BET, recorded a 23.8% increase in the first five months of this year, the highest of all markets in the European Union, according to a Bucharest Stock Exchange press release.

Austria ranked second, with 19.3%, followed by Poland with 17.1%, and Bulgaria with 12.7%.

The local stock market has seen five consecutive months of growth so far this year, and the BET went over 8,700 points for the first time in the last nine years. The BET reflects the evolution of the 12 most liquid companies listed on the Bucharest Stock Exchange.

“We are not witnessing a bubble here in Bucharest. We have just got home from a journey that led us somewhere, not in the desirable direction but astray to a lower league of markets. We are already in transition to a higher league and we eyewitness how listed companies gain value as a result of this process and the expectations to carry on,” said Ludwik Sobolewski, BVB’s CEO.

The total turnover on the Bucharest Stock Exchange reached nearly RON 2.15 billion (EUR 470 million) in May, also due to the Digi Communications initial public offering, the biggest listing of a private company in BVB history.

editor@romania-insider.com