“We are upgrading European stocks at neutral level but will continue to recommend caution, as the minimum thresholds of markets are still very fragile, given high volatility. Locally, we do not expect profits above the average level in Europe in the coming quarter,” said Ronald Stoeferle, Erste Group analyst, in a report published yesterday.
Local brokers said that BVB’s short-term trend became a positive one, but in the medium-term, there continues to be a downward trend. “Those who can afford to take risks can do so now, but they must be cautious, because, after 80 percent drops and one-month rises, I do not think that investors should throw all their money on the market,” said Razvan Pasol, Chairman of the Intercapital Invest brokerage firm.
The BET-C index, which follows the evolution of all BVB shares, gained 4.6 percent yesterday, while the BET-FI index of the five financial investment companies (SIF) rose 6.4 percent, the highest increase on the market.
In the banking sector, Banca Transilvania shares had the best evolution, gaining some 13 percent, with total transactions worth RON 2.6 million (€0.6 mln), followed by Erste Bank titles, which soared 9.5 percent.
