“The year 2015 was marked by high volatility episodes while the international context also impacted investors’ perception,” Lucian Anghel, Chairman of Bucharest Stock Exchange Executive Board, told MEDIAFAX.
The Bucharest bourse’s main index BET closed down 1.1% last year, the first negative evolution in the last four years.
The main external factors which impacted the stock exchange last year were the crisis in Greece, investors’ expectations regarding the key rate change by the Federal Reserve and European Central Bank, the sharp oil price fall as well as the incertitude on China’s economy.
Internal factors include the lack of a significant IPO and the listing of three of the most important Romanian companies on London Stock Exchange.
The total value of transactions on the bourse’s regulated market reached RON8.8 billion in 2015, compared with RON13 billion in 2014. The average daily value stood at RON35.1 million, from RON52 million the previous year.
“The Romanian market distinguished itself also in 2015 through the highest dividend yields in the region, as energy companies like Romgaz even paid dividends of 9% in 2015. (…) In the past years, the important dividends paid by the companies listed on Bucharest Stock Exchange (even 10%/year for certain companies) were an important element of attraction which will most likely continue in the next year as well,” Anghel stated.
In 2016, the interconnection between financial markets will continue to be reflected on the Romanian market, as investors will continue to react based on international and local news related to the Romanian economy and other punctual elements.