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BET climbed this week above the quotations recorded in June 2008, a sign of refurbishment for the local stock exchange, on the background of similar trends registered worldwide, according to a Tradeville release received by energynomics.ro.
“The BET index closed on Wednesday at 7,349 points, the highest quotation after June 2008 and this trend continued into the Thursday session. We believe that the growth prospects are excellent for the local market: the economic growth rate is among the European Union’s top, the ECB has recently launched a massive program of monetary easing, the Central Bank of Romania is also engaged in a cycle of reducing the monetary policy rate amid low inflation”, says Ovidiu Dumitrescu, Deputy General Manager, Tradeville.
But BET has to grow about 45% to reach the 2007 highs.
“If we add the possible inclusion of BSE in the group of emerging markets and that in the developed countries the main indexes view a strong uptrend (exceeding by a lot the pre-crisis highs), we have the ingredients of a substantial increase for the BET, for which the post-crisis highs met Wednesday and exceeded on Thursday are a technically positive signal”, says Dumitrescu.
“As more and more investors around the world will join this perspective, as noted recently by UBS, we expect to see an acceleration of the movement of BET quotations appreciation. Evolution of BET is consistent with our expectations, which led us to invest time and effort in creating and developing the only ETF in Romania, a listed fund that replicates the BET index and which since its launch and until Wednesday recorded a yield of 51.2%”, says the Tradeville manager.
