The stock that was most frequently traded last week on the Bucharest Stock Exchange, issued by Financial Investment Companies (SIFs), can no longer constitute the basis of the bourse during the following days because nobody, with few exceptions, wants to buy this stock, capital market operators maintain.
"Excepting the period when they were massively bought by Banca Romana de Scont (the Romanian Account Bank) through Gelsor brokerage, SIF shares have never presented any major interest for market investors. This can be easily noticed from the correlation between the price of this stock and the depreciation of the domestic currency against the dollar.
The increase this stock is registering at present represents in fact adjustment to the depreciation of the domestic currency and it is highly likely that it should not last for a long time," Nicolae Ghergus, head of operations with Active International securities company, told Ziarul Financiar.
Moreover, the reintroduction of Alro stock on trading must not be expected to happen too soon, brokers also say, due to the major influence this stock has over the official index of the bourse, BET.
"The reintroduction of Alro stock should not be expected ahead of the capital increase or the split in the shares' face value by the General Assembly of Shareholders (AGA). It is necessary to recalculate the capitalisation with which the company will be introduced in the calculation of BET index, a reason why it is little likely for the stock to make an early comeback," said Mihai Grigore, a trader with BRD Invest.
Most capital market operators expect a continuation of the good evolution registered by stock of Oltchim, which has recently announced it planned to increase capital.
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