Shares of Digi Communications surge by 7.5% on January 22 amid broad recovery at Bucharest Exchange

The price of the shares of Romanian telecom group Digi Communications rallied by an impressive 7.5% on January 22 – an outstanding advance even considering the broad recovery of all the prices at Bucharest Stock Exchange (BVB) after three days of decline, Ziarul Financiar reported.

Both the decline and the recovery reflected changes in the sentiment of investors across the globe following possible further deterioration in the foreign trade induced by more sanctions planned by the US president Donald Trump.

The main blue-chip index at Bucharest Exchange, BET, rose by 1.69% on January 22, while the price of several companies in the index rose by over 3%: BRD Groupe SocGen (+3.99%), Premier Energy (+3.69%), and Transelectrica (+3.58%).

When it comes to Digi Communications, the prices of the Romanian telecom group have recovered steep losses in the previous days, and it returned to the same level where it was one week earlier (versus -2.26% for BET). However, the company’s shares surged by 18% ytd and +97% y/y, bringing the market capitalisation to nearly RON 13 billion (EUR 2.6 billion).

(Photo source: the company)