Stock market down 1.33%

About one quarter of Friday’s liquidity, or €11.6 million, was covered by large transactions on the electronic Rasdaq market, with stock of companies that are targets for takeover, such as Perla Covasnei mineral water producer and Remarul Cluj-Napoca and SAIF Timisoara construction companies. 

“Low prices will probably keep on driving takeovers,” said Marcel Murgoci, Operations Manager of Estinvest brokerage company. He explained that higher key rates in the euro-zone and in Romania are impacting on listed companies, increasing the costs of takeovers and affecting profits. However, he added that all takeovers will not be postponed, as the pressure will only be on sellers, while buyers will succeed in passing on their offers.