Stock Exchange recovers 2.3bn euros in the last month

The Stock Exchange recorded its best performance so far in May, after the BET index (which reflects the performance of the 10 most liquid shares) gained 11%, while the SIFs (financial investment companies) increased by almost 7% amid deals worth 227 million euros, 35% above the average of the previous three months. The stock exchange capitalisation increased by 2.3 billion euros and reached 36.6 billion euros. The increase was driven by the financial results released by companies in the first quarter, after most large companies reported rising profits, in the wake of a more stable foreign financial climate, which prompted the active presence of foreign funds on the market, particularly over the last two weeks. The brokers’ ranking in May reflects the heightened interest from foreign investors in the local market. ING Bank, which primarily works with foreign funds, saw the numbers of brokered deals triple against the previous months, and climbed to the top spot. “The second half of May saw greater interest in the Romanian market, but we cannot say we are on a solid upward trend. I think, previously, the risk associated to Romania was exaggerated, and now investors have started to return to the market, after seeing that the risks are not as high as they first thought. Things have calmed down a bit, but we still have a period of volatility ahead,” says Florin Ilie, head of the capital markets department at ING Bank.