The evolution of the Bucharest Stock Exchange (BVB) did not meet analyst expectations, with the main cause being the US subprime crisis. BVB indices rose by up to 32 percent, with the best evolution registered by the Rasdaq-C index, at 96.5 percent, the latter almost double year-on-year.
The value of exchanges in 2007 on the Rasdaq market amounted to €1.21 billion, five times higher than in 2006, with market capitalization increasing 2.3 times, to some €6 bln.
The last trading week ending the 2007 stock exchange year was agitated, and served to change the perception of native investors in terms of stock exchange investment strategy. “We had impressive gains on the whole of the BVB throughout the summer period and spectacular gains on the Rasdaq due to increases in capital initiated by market-listed issuers. The Romanian market suffered sharp corrections due to the American crisis, but was subject to similar comebacks, albeit with less force to retest historic maximum July highs by the end of the year,” according to a report issued by investment advisory company KTD Invest. Most important capital increases were made by Dafora Medias (DAFR) and Prospectiuni Bucuresti (PRSN).
In 2007, investor attention was increasingly directed to the Rasdaq market, with the three indices enjoying growth of between 67.12 and 100.58 percent year-on-year. The highest growth was registered by Stimet Sighisoara, which rose 19,900 percent. Among the most liquid companies, top growth was registered by Atlas Gip, up tenfold, followed by COMCM Constanta, which brought investors gains of 6,570 percent. In the basic category, Asirom (ASRA) had the most liquid shares, whose total liquidity amounted to RON 492.7 mln, due mainly to the company’s takeover by Austrian Vienna Insurance Group (VIG).