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%.
The Constitutional Court unanimously validated on Friday, May 9, the results of the first round of the presidential elections. It also rejected as unfounded a request to annul the elections filed by Sebastian-Constantin Popescu, the presidential candidate of the New Romania Party, it announced. The runoff, set for May 18, will see ultranationalist leader George […]
Bucharest's culinary scene welcomes back OLEA, the JW Marriott Bucharest Grand Hotel's celebrated Mediterranean destination, now reimagined with a fresh concept that blends authentic coastal flavours with contemporary sophistication. Following an extensive transformation, OLEA reopens its doors to offer guests a refined journey through the Mediterranean's sun-drenched culinary traditions, right in the heart of Romania's […]
The far-right presidential candidate George Simion, who won the first round of the presidential elections with over 40% of the votes, said during a debate on Thursday, May 8, that Romania should copy many state policies enacted by Hungarian prime minister Viktor Orban. Simion stated during the Euronews debate that all ethnic Hungarians "must understand […]
A landmark exhibition of works by the iconic photographer and war correspondent Lee Miller has opened at The King’s House in Viscri, in central Romania’s Brașov county. Titled Lee Miller’s Romania, the exhibition is billed as “the most extensive presentation of her work ever held in the country.” Miller, the war photographer and muse of […]
Boracay’s white sandy beaches and stunning sunsets make it a top destination for travelers of all ages, including seniors looking for a relaxing getaway. While the island is known for its vibrant nightlife and water activities, it also offers many accommodations tailored to older visitors. Senior-friendly hotels in Boracay prioritize comfort, accessibility, and convenience, ensuring […]
AmCham Romania, the business association gathering 600 American, international, and Romanian companies, has called for "responsibility and dialogue, essential to prevent an irreversible decline in investor confidence in Romania." The call comes "in the context of economic turbulence built up over the years and amplified to a worrying level by the prolonged electoral period." "Romania's […]
