The outlooks of Transgaz Medias (TGN) and Transelectrica
Bucuresti (TEL) utility companies and the modest performance of
their stock in 2009 turned them into investors' new target, at
least for the following period. "The fact that the utilities sector
is registering such strong increases does not surprise me because
there are enough reasons on the market. First, there's high
interest in Transgaz stock amid investors' expectations about the
company's taking part in at least one of the two announced
projects, Nabucco or SouthStream, or even in both. Moreover, the
company reported rising results, very good ones, which again
supports the upward trend. Also, both stocks registered
consolidation last year for almost nine months and pressure has
built upon them," explained Ovidiu Serdean, a broker with IFB
Finwest brokerage. Analysts, however, believe we cannot speak of
investors shifting to defensive stocks as the most traded stocks on
the market are SIFs, and other defensive stocks, such as
pharmaceutical ones, are not registering similar trends.
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