Activity on the BVB in November 2019

Trading statistics for November 2019 show an average daily turnover of EUR 7.4m (-12.1% YoY).

The Bucharest Stock Exchange published their trading statistics for November 2019, showing an average daily turnover of EUR 7.4m, representing a decrease of 12.1% YoY.

When observing the top traded shares, one can notice that Banca Transilvania recorded the highest turnover of RON 168.4m. OMV Petrom comes next with RON 142.6m. Romgaz and Fondul Proprietatea follow with RON 101.6m, respectively.

Of the BET index components, Two banks – BRD and Banca Transilvania observed the highest share price increase in November of 7.7% and 7.1%, respectively. OMV Petrom follows with an increase of 4.9%. On the flip side, Alro and Sphera Franchise Group observed the highest share price decrease of 6.2% and 5.7%, respectively.

It is worth mentioning that all five SIF’s recorded a double-digit share price increase in November, with SIF Transilvania leading the list (+18.8%). Such a share price reaction came after the Romanian Government eliminated 5% ownership threshold in the SIFs.

As a reminder, The Chamber of Deputies, the decision-making chamber, adopted the law on alternative investment funds (AIF), which repeals the normative act by which investors are capped by a 5% ownership threshold in all 5 listed SIFs. After the mentioned vote, the law goes for promulgation to the president, and the legislator gives a period of 6 months to Fondul Proprietatea and SIFs to submit the documentation related to the qualification under one of the categories of alternative investment funds. Therefore, the mentioned act should take place in 2020. To read our blog on the mentioned topic click here.

Turning our attention to the main index of the BVB, in November, BET observed an increase of 3.87%, amounting to 9,886.93 points.

Average Daily Turnover (Jan – Nov 2019) (EUR m)

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