On the other hand, the Transgaz, OMV Petrom and Romgaz saw the worst declines, 8%, 6% and 5%.
“The Romanian capital market started the year with a lateral trend of the BET index, with the gains of the first few weeks lost almost entirely over the last few days due to the nervousness of the international markets,” says Cristian Popa, former investment manager of NN Pensii, the largest private pension manager in Romania.
Various sectors performed differently, both negatively such as the energy sector, affected by the mild weather during winter, and positively – consumer and healthcare sectors, he added.
Ten of the 16 stocks that make up the BET index generated profit in January 2020, with yields ranging from 10.7% for Fondul Proprietatea to 0.5% for Electrica and the rest generated losses from 8.2% for Transgaz to 0.4% for Banca Transilvania, ZF has found.
In comparison, the main index rose 0.5% in January.
“I expect 2020 to be a volatile year for the capital market with uncertainties and challenges, coming from both economic factors and from the busy electoral schedule,” Cristian Popa says.
Dragos Mesaros, trading manager of Goldring, say that the start of the year was rather difficult for the Bucharest Stock Exchange, given the international events, and says he expects 7% to 10% growth of the BET index in 2020.
(English version by Loredana Fratila-Cristescu)