In the past month, Azomures titles had higher growth than usual, up to 90 percent.
Since the beginning of 2008, only six companies listed on BVB registered increase in quotations. Port operator Socep Constanta ranks second, with 47.8 percent growth. Austrian Erste Bank, owner of Romania’s largest lender, BCR, also rose 23 percent. Petrom, the largest company in Romania, controlled by Austrian group Erste, rose 8 percent.
“Last year, the market was very optimistic, as investors were willing to pay a bonus to enter an emerging market and an EU member at the same time. But investors are now much more cautious, they want to see positive results before purchasing,” said the Deputy General Manager of brokerage company Broker Cluj, Adrian Ceuca.
Since last summer, the local stock market registered significant decline. BVB indexes also dropped by 20-30 percent since the beginning of 2008.
