Romanian stock index BET hits 17,000 points for the first time since launch, records 10% growth in the first quarter

The BET index, which follows the most traded 20 Romanian companies listed on the Bucharest Stock Exchange (BVB) touched a new historic milestone – 17,000 points, on Friday, March 29.

The Bucharest Stock Exchange has experienced a strong evolution in the last nine months when the BET has gained about 40% and has passed several milestones: 14,000 points in September 2023, 15,000 points in December 2023, 16,000 points in February 2024 and 17,000 points in March 2024.

This evolution has been connected with the positive evolution in international markets while the listing of state-owned power producer Hidroelectrica in July 2023 increased the visibility of the Romanian market among foreign investors and also sparked more interest from individual Romanian investors for the Bucharest Stock Exchange.

Since the beginning of this year, the BET has gained over 10% and in March alone the index went up by 7%.

The factors contributing to this recent growth include solid results reported by Romanian blue-chip companies for 2023 and high dividend yields alongside stable growth perspectives for many of these companies as the Romanian economy is expected to accelerate its growth in 2024.

Some of the most traded stocks on the Bucharest Stock Exchange recorded double-digit growth rates in March, most notably electricity holding Electrica (EL, +13.5%), gas producer Romgaz (SNG, +12%), BRD-Groupe Societe Generale (BRD, +11.3%), and oil and gas group OMV Petrom (SNP, +10.2%). Hidroelectrica’s shares (H2O) also gained 8% in the last month after the company announced it would distribute 100% of its 2023 profit to investors, resulting in a dividend yield of over 10%.

(Photo source: BVB)