Friday the Romanian markets started higher and stayed higher for the whole trading session. The main indexes closing in at +0,20% for BET and +1,14% for BET-FI.The transaction values were lower compared with the previous transaction days, a sign that the market participants weren′t very impressed by the gains showed by other European markets.
The resignation of the German President Mr. Wulff failed to deliver any volatility to the markets with EUR/USD hovering around 1,3170 level and German DAX around 6.850. In US the Consumer Price Index came in line at +0,2 percent, signs that the inflation is still low and Chairman Ben Bernanke can keep the interest rates at low levels till late 2014 as he previously announced.
Because Monday the US markets are closed due to President′s Day, the Romanian market participants preferred to take an extended holiday up to Tuesday and also to wait and see the outcome of the Monday EU finance minister meeting in which the Greek situation is discussed again.
In other news Transilvania Bank (TLV) reported that it sold 4 percent of SIF Banat Crisana (SIF1) to Romenergo due to complying to CNVM disposition.
Over the week-end I′m expecting news coming from Greece to continue to make headlines as declarations from EU officials and political leaders differ into helping or not Greece avoiding a default.
Related posts
-
Transylvania Today: Bucharest has one third of Romania’s university graduates
Most graduates of higher education institutions in Romania live in Bucharest (33 percent), Cluj-Napoca (11 percent),... -
Transylvania Today: Ikea prepares expansion on Romanian market
This is the best time for Ikea’s expansion in Romania, Ikea Group CEO Jesper Brodin said,... -
Transylvania Today: Romania could fall into recession following the electoral cycle
Romanian economy could fall into recession at the beginning of 2021, following the electoral cycle, due...