Saxo Bank analyst: Dependence on SIFs, too heavy

Industry, technology and utilities are the fields set to boast solid performance in the following year on the Stock Exchange because they are the ones generating the genuine economic growth, and financial companies to a lesser extent, with an impact only in terms of boosting economic rebound, believes Christian Tegllund Blaabjerg, a market analyst with Saxo Bank. He is upbeat as regards the trend of the Romanian capital market, criticising, however, the too high attention investors have in the past year paid to the five financial investment companies (SIFs), as well as the lack of relevance to the economy of the main stock exchange index, BET. "Dependence on SIFs has become too heavy on the Romanian capital market, being largely justified by a speculative interest that fluctuated depending on talks about raising the stake cap. Investors should now be looking toward the stocks of fields generating economic growth. The classical industrial stocks, technology, utilities and healthcare services are the sectors generating the true growth, while financial companies do not generate anything, they just play the role of boosting growth," said Christian Tegllund Blaabjerg of Saxo Bank.