The top performer was the Athens Stock Exchange, whose main index Athex delivered a 41.6% yield to investors.
The Romanian stock market ranked 14th by main index rise in the EU in the first quarter but later climbed to second place, following the good results posted by listed companies and the amendment of the Ordinance 114 on taxation changes.
“Let’s not forget that the passing of the Emergency Ordinance 114 affected almost every sector and the BET index at the end of last year and in the first month of this year. Domestic news mainly had the greatest impact on the stock quotes. Some of the Emergency Ordinance 114 provisions were amended as early as the beginning of this year, especially the banking sector-related ones, which led to significant rises for bank stocks,” Alexandru Ilisie, investment director of OTP Asset Management, told Ziarul Financiar. hex
Both indices, BET and Athex, reflect the trend of the stock price and do not take into account the dividends paid by companies included in them, such as the DAX of the German stock exchange does. Dividends included, the investors in Bucharest got an almost 30% yield in the first half.
Alexandru Ilisie expects the stock trend to be driven by financial results in the second half and says that the policies of the major central banks can have an influence on the frontier markets, including Romania.
(English version by Loredana Fratila-Cristescu)