Bucharest Stock Exchange (BVB) indexes declined by 5 percent yesterday, after two days of significant growth, with the worst impact on financial investment companies (SIF), which had their quotation down by 9.2 percent. Romania’s largest company, Petrom, lost some 11 percent.
Besides the listed companies quotation decline, the crisis has not yet impacted on the energy sector, in terms of consumption reduction. However, companies in the field saw their business affected by leu depreciation, which led to higher costs for fuel imports, according to major market players for Business Standard.
A slowdown foreseen for the European market led major companies in the steel industry to take safety measures. ArcelorMittal, global market leader in the field, tries to avoid large stocks by lowering production. However, the decision can be annulled if market conditions changed, a trade union leader at the Galati plant owned by the group said.
