Romania’s capital market surged 299 percent in the past five years, compared to the average EU growth of 118 percent. In terms of annual growth, the average ratio was 17 percent.
Eight of the 10 EU countries with top growth in stock prices since 2003 are in Eastern Europe. Bulgaria is number one with growth of 352 percent during the past five years -- more than six times higher than growth of British stock prices, Reuters writes. Lithuania ranks second, with 309 percent growth. Romania is followed by Luxembourg (263 percent) and Austria (247 percent). The remaining top 10 include Poland, the Czech Republic, Hungary, Slovakia and Estonia.
“These countries have clearly benefited from greater capital inflows, especially foreign direct investment, and the further integration of their financial markets within the EU,” said Martin Ellis, Halifax Chief Economist. “This has boosted share prices substantially,” he told Reuters.
Poorest performance was registered by Italy (42 percent growth in five years) and Britain (55 percent).
