BVB reacts negatively to the result of first round of presidential elections

 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%.