The BVB BET-FI and BET indexes yesterday lost 8.5 percent. The sharpest decline in the SIF sector belonged to SIF Moldova, which dropped 10.5 percent.
“What we see now is the result of a totality of circumstances rather than the reaction to a single event; BVB is amplifying some external evolutions. I suspect that statements made the other day by Austrian officials did not help, and probably some players needed confirmation, such as that of financial reports, in order to sell,” said Florin Ilie, Head of Equities Markets of ING Bank Romania.
Ilie added that it cannot be said that anyone was surprised by the 2008 results and that this is the reason why the Stock Exchange is dropping now, because the losses registered in the fourth quarter were to be expected.
“The liquidity on the Stock Exchange will remain low for a long time, regardless of the evolution of the market. I say this because we have a low free-float, which is, at the same time, combined with an extremely low price of titles, which leads to the current turnovers,” said Ilie.
