Stock Exchange recovers thanks to non-residents

Net foreign investments on the Bucharest Stock Exchange started to recover in September after the last two months of summer saw low foreign capital inflows and price stagnation. The price stagnation continued in September, with many brokers even talking of possible corrections, but buy orders from abroad prevented a drop in prices. The market in October reverted to strong growth and brokers say foreign investors injected yet more money into the market. Net foreign investments on the Bucharest Stock Exchange (acquisitions minus sales) reached 3.2 million euros in September with the contribution of foreign investors to total transactions matching levels from the spring. Non-residents bought more than 7.7 million euros’ worth of shares on the BSE in September, selling to the tune of 4.5 million euros. ZF