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Bucharest Stock Exchange sees worst day in almost two years

The Bucharest Stock Exchange experienced its worst trading session in almost two years on Friday, March 4, as its blue-chip BET index dropped by 5.35%.

The biggest local lender – Banca Transilvania (TLV) – saw its shares drop by 7.17%, while local medical services provider Medlife (M) experienced a correction of 8.6% and the shares of Moldova-based Purcari Wineries (WINE) lost 9.5% of their value. Local industrial group Teraplast (TRP) was the day’s biggest loser with a price drop of over 13%.

Since February 24, when Russia invaded Ukraine, the BET has lost over 13% of its value.

Friday’s evolution was in line with that of the major European markets, which also recorded strong corrections.

The German blue-chip index – DAX – lost 4.4% on Friday, the French CAC 40 ended the day down 5% while the Italian FTSE MIB index went down by as much as 6.2%.

Investors worldwide are worried that the economic consequences of the war in Ukraine and the sanctions imposed on Russia will have a substantial negative impact on the world economy.

The International Monetary Fund (IMF) warned on Friday that the consequences of the war in Ukraine are already very serious: “Energy and commodity prices, including wheat and other grains, have risen in addition to inflationary pressures caused by supply chain disruptions and the Covid-19 pandemic. Price shocks will have a global impact, especially on poor households for which food and fuel account for a larger share of spending. If the conflict escalated, the economic damage would be even more devastating,” according to a statement quoted by News.ro.

Europe, which is more dependent on Russian gas and oil than other regions of the globe, will likely feel a stronger shock.

(Photo: George Calin/ Inquam Photos)

andrei@romania-insider.com

Normal

 

The Capital Markets News section is powered by the Bucharest Stock Exchange 

 

BSE

 

 

Bucharest Stock Exchange sees worst day in almost two years

The Bucharest Stock Exchange experienced its worst trading session in almost two years on Friday, March 4, as its blue-chip BET index dropped by 5.35%.

The biggest local lender – Banca Transilvania (TLV) – saw its shares drop by 7.17%, while local medical services provider Medlife (M) experienced a correction of 8.6% and the shares of Moldova-based Purcari Wineries (WINE) lost 9.5% of their value. Local industrial group Teraplast (TRP) was the day’s biggest loser with a price drop of over 13%.

Since February 24, when Russia invaded Ukraine, the BET has lost over 13% of its value.

Friday’s evolution was in line with that of the major European markets, which also recorded strong corrections.

The German blue-chip index – DAX – lost 4.4% on Friday, the French CAC 40 ended the day down 5% while the Italian FTSE MIB index went down by as much as 6.2%.

Investors worldwide are worried that the economic consequences of the war in Ukraine and the sanctions imposed on Russia will have a substantial negative impact on the world economy.

The International Monetary Fund (IMF) warned on Friday that the consequences of the war in Ukraine are already very serious: “Energy and commodity prices, including wheat and other grains, have risen in addition to inflationary pressures caused by supply chain disruptions and the Covid-19 pandemic. Price shocks will have a global impact, especially on poor households for which food and fuel account for a larger share of spending. If the conflict escalated, the economic damage would be even more devastating,” according to a statement quoted by News.ro.

Europe, which is more dependent on Russian gas and oil than other regions of the globe, will likely feel a stronger shock.

(Photo: George Calin/ Inquam Photos)

andrei@romania-insider.com

Normal
 

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