Best July for lenders since BVB listing

The benchmark BET index rose for the sixth month in a row, gaining 14.16 percent - the best growth registered in July in the past four years.
“Until February, people were so panicked that they could not see a ray of light. The crisis is not over, but that light is visible again, and so the stock market has started to go back up,” according to Intercapital Invest broker President, Răzvan Paşol. Rumors regarding the takeover of Banca Transilvania (TLV), the largest lender still owned by Romanian shareholders, had a strong impact on the price of its shares, which rose some 24 percent last month. This was the best growth registered in July, since the bank was listed in 1997. In the same month in 2007, when BVB was breaking growth records, TLV shares rose 10.6 percent.

BRD stock also had significant growth, with the lender ranked fourth in the list of companies that brought earnings to shareholders.
Last month, the best growth on BVB was registered by Erste Bank, which rose more than 30 percent. Erste is also listed on the Vienna Stock Exchange. This was followed by Amonil fertilizer producer, with some 25 percent growth.