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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Bucharest Stock Exchange indexes fall by more than 4% as international turmoil hits local market

The main indexes of the Bucharest Stock Exchange (BVB) fell by more than 4% in the first two hours of trading on Monday, as the turmoil in the international markets has been growing in the past weeks.

Bucharest’s BET index, which follows the share price evolution of the ten most important companies listed on the Bucharest Stock Exchange, went down by as much as 4.1% as blue-chip stocks such as Banca Transilvania (BVB ticker: TLV) and electricity distributor Electrica (EL) lost close to 5% while gas pipe operator Transgaz (TGN) and power producer Nuclearelectrica (SNN) tumbled more than 4.5% (as of 11:45 AM).

The shares of OMV Petrom (SNP), the biggest company in Romania by market capitalization, also went down by 3.8% on Monday morning, as the steep drop in international oil prices has been hurting the company’s results. Moreover, OMV’s management has announced that new restructuring may be needed within the group, as the oil price went down to under USD 30 per barrel.

The Bucharest Stock Exchange has experienced its worst year start since 2009, as the BET had already lost 9.5% in the first two weeks of January. The index has closed in the red in nine of the ten trading sessions this year.

The trading volumes on the Bucharest Stock Exchange have also increased reaching a daily average of more than EUR 12 million in these two weeks, more than double compared to the average level recorded last year, which shows that more investors have been selling their shares.

For updated information on the Bucharest Stock Exchange evolution go to bvb.ro.

Andrei Chirileasa, andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Bucharest Stock Exchange indexes fall by more than 4% as international turmoil hits local market

The main indexes of the Bucharest Stock Exchange (BVB) fell by more than 4% in the first two hours of trading on Monday, as the turmoil in the international markets has been growing in the past weeks.

Bucharest’s BET index, which follows the share price evolution of the ten most important companies listed on the Bucharest Stock Exchange, went down by as much as 4.1% as blue-chip stocks such as Banca Transilvania (BVB ticker: TLV) and electricity distributor Electrica (EL) lost close to 5% while gas pipe operator Transgaz (TGN) and power producer Nuclearelectrica (SNN) tumbled more than 4.5% (as of 11:45 AM).

The shares of OMV Petrom (SNP), the biggest company in Romania by market capitalization, also went down by 3.8% on Monday morning, as the steep drop in international oil prices has been hurting the company’s results. Moreover, OMV’s management has announced that new restructuring may be needed within the group, as the oil price went down to under USD 30 per barrel.

The Bucharest Stock Exchange has experienced its worst year start since 2009, as the BET had already lost 9.5% in the first two weeks of January. The index has closed in the red in nine of the ten trading sessions this year.

The trading volumes on the Bucharest Stock Exchange have also increased reaching a daily average of more than EUR 12 million in these two weeks, more than double compared to the average level recorded last year, which shows that more investors have been selling their shares.

For updated information on the Bucharest Stock Exchange evolution go to bvb.ro.

Andrei Chirileasa, andrei@romania-insider.com

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