The stock market reacted negatively to the election results, and volatility could manifest itself until the result of the second round of the presidential elections, but we cannot talk about panic, say brokers on Monday."What is happening now on the market is a result of the election results and investors' concerns about what will happen in the second round. Definitely after the second round, things will become certain, meaning we will see the direction the economy, the country, what will happen. Investors' concern is that, depending on the election results, there will be a reaction from international markets, especially from international financiers. And then, I think that what we see now in the market is a precaution, let's say, from investors. They are waiting. I think that for two weeks, we will still have volatility," explained Ovidiu-Lucian Isac, general director of Estinvest.For his part, Antonio Oroian, a broker at Goldring, said that a negative reaction to the election result is now visible, "especially in light of the rather high result obtained by the far-right candidate.""However, given the trading volumes, we cannot speak, at least for now, of a panic among investors. Even so, we are entering political instability again, if we look at the tensions in the governing coalition, and this instability does not help us at all, neither in fiscal-budgetary issues, nor in the perception of foreign investors and rating agencies," Antonio Oroian emphasised.Also, Alin Brendea, a stock analyst at Prime Transaction, believes that the market reaction was negative, but moderate."Any signal that Romania is heading towards an isolationist destination towards the European Union and NATO has the potential to negatively affect market sentiment, in an economy still largely dependent on foreign investment and European funds to maintain its financial balance and economic growth," said Alin Brendea.The Bucharest Stock Exchange (BVB) opened Monday's trading session with a decline in all indices, and the turnover amounted to 26.46 million lei (5.3 million euros), 35 minutes into the trading. Stock market indices recorded decreases between 1.38% and 2.11%.
More than 680 houses in Suceava country and 170 houses in Neamţ county were impacted in the flash floods that hit northeastern Romania at the end of last week. Forty-one houses were completely destroyed, Raed Arafat, the head of the Department for Emergency Situations (DSU), announced on Friday, August 1. Three people were killed in […]
Romanian justice minister Radu Marinescu said on Thursday, July 31, that harsher penalties are being considered for violence against women and domestic violence, including the criminalization of femicide. The minister said that Romania currently has legislation that is fairly adequate, in line with European standards, for combating violence, including domestic violence. He also said that […]
Via Transilvanica, the long-distance trail that crosses the country, will apply to be the first accredited long-distance route in Romania after the government issued the methodological norms regulating the hiking trails of national interest. Tășuleasa Social, the non-profit that developed the trail, called the recently issued norms "a huge step that transforms a bold idea into...
Former prime minister and Social Democratic leader Marcel Ciolacu stated that he does not rule out a candidacy for the presidency of the Buzău County Council, after rumors to that end. PSD Buzău president Romeo Lungu had previously told journalists that discussions are underway for the former prime minister to run for the Buzău County […]
The Balneo-Physiotherapy Clinic in the Călimănești resort town, southern Romania, will undergo rehabilitation with a EUR 10 million financing from the European Union, according to representatives of the Vâlcea County Council. The project implementation period will be 24 months from the completion of the tender for the execution of the works, which include, in addition […]
Bringo, the first personal shopper-based rapid grocery delivery service in Romania, handling over 4,000 daily orders in more than 35 cities, launches a loyalty program that turns shopping into a continuous reward experience. "Beyond functional benefits like discounts, free delivery, or double refunds for SGR packaging collected right at your doorstep, Bringo YOU offers a […]
