Bucharest bourse GM: Brexit impact is not necessarily negative

The Brexit impact is diverse and not necessarily negative, said Ludwik Sobolewski, Bucharest Stock Exchange GM. London could even become stronger as a global financial center as it won’t be subject to EU’s bureaucratic pressures and its tendency of over-regulation anymore, he added. “These days the stock markets are good for those who buy,” Sobolewski said. Brexit confirms the saying that the only certain thing in life is change, Sobolewski added, pointing out that investors may start analyzing markets in the EU case by case and not as a whole, which may be a good change for countries like Romania. The Bucharest Stock Exchange has strong connections to London as several big Romanian companies, such as gas producer Romgaz, electricity distributor Electrica, and investment fund Fondul Proprietatea are also listed on the London Stock Exchange, though they are primarily traded in Bucharest. Romania has also been planning a dual listing of its biggest power producer Hidroelectrica on the Bucharest Stock Exchange and London Stock Exchange. The main index of the Bucharest Stock Exchange, BET, lost 3.5% on Friday (during the day it even went down more than 7%) after the result of the vote in the UK was announced. The local banks’ shares were the most affected, with Banca Transilvania and BRD losing over 4.5%. editor@romania-insider.com