The average rise of the 77 stock exchanges was 8.5% this year, according to a statistic of UK’s Bespoke Investment Group.
The Bucharest bourse had been one of the top risers in the first few months of 2012, in the top four.
May corrections prompted the Bucharest bourse to lose 20% of its value. And the market indexes have yet to return to the early-year highs.
The Bucharest stock market has this year been left behind by many of the mature stock exchanges, such as the Frankfurt market, which climbed 26%, and the French one, which went up 13%.
The trend of the Bucharest stock exchange this year also has to do with many investment funds losing interest in the local market. This is confirmed by the low liquidity of the Bucharest bourse this year, which fell 28% in the first 11 months.
“The low liquidity is disappointing. We should focus more on increasing the volume of transactions and only afterwards think about revenues,” said Adrian Manaila, owner of Eldainvest, a brokerage house in Galati.
2012 was atypical for the trend of the Bucharest market. The local bourse tended to be among the top growers when the world’s stock exchanges were performing well and recorded some of the biggest corrections when the international markets fell.
This year, despite most stock exchanges recording rises, the Bucharest stock exchange is only to be found in the middle of the ranking.
The market with the biggest rise was Turkey, by 47.3%.
(English version by Daniela Stoican)