Financial watchdog: Market capitalization down in H1 for companies listed on Bucharest Stock Exchange
The market capitalization of the companies listed on the Bucharest Stock Exchange (BVB) totalled 131.569 billion lei at the end of the first half-year, down by 2.26 billion lei from end-December 2013, accounting for 19.86 percent of the gross domestic product estimated for 2014, says the Financial Supervisory Authority in a release to AGERPRES on Wednesday.
When compared to the last mid-year, the stock market capitalization has gone up 38.84 percent. The rise of 36.8 billion lei year-over-year was mainly the result of the new listings on the capital market and the development of the stock prices.
The GDP share of the market capitalization expanded by 4.8 percent from 15.07 percent of GDP on June 30, 2013 to 19.86 percent at the end of this half-year.
Almost 85 percent of the BVB capitalization was accounted for by financial sector companies and the mining industry firms. The structure of the capitalization shows the Romanian market is dominated by the financial companies (investment funds SIF, Proprietatea Fund) and by Oil Company Petrom. Ranking next by importance are the utility firms – Transelectrica power transporter, Transgaz gas transporter.
As many as 1,056 commercial companies were listed on the Romanian capital market as of June 30, 2014, down by 35 from the beginning of the year.