Stock Exchange ends its worst six months in 10 years

The BET index (which reflects the trend of the 10 most liquid shares on the Bucharest Stock Exchange (BSE), has seen an almost 33% decline since the beginning of the year, with the stock exchange capitalisation down by around 7 billion euros during this period, the worst half-year on the Bucharest Stock Exchange (BSE) in 10 years, i.e. since 1999. If the SE does not manage to recover the six-month losses by the end of the year, this could be the second loss-making year in its history. Unlike at the beginning of the year, when most brokers were optimistic, and forecast that the market would recover, at present, few players on the market still believe losses can be offset by yearend. Some sectors, such as the financial one, have been significantly affected by the declines, and it is hard to believe they will be able to step back into positive territory, especially since, on international markets, the financial sector is still in crisis. The SIFs (Financial Investment Companies) lost 40% on average since the beginning of the year, and shares of Broker Cluj saw one of the steepest declines on the market, by almost 65%.