Second day of chaos on BVB, amplified by news that GEO on fiscal measures is on the Gov’t sitting agenda

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The Bucharest Stock Exchange is again in chaos, on Thursday, after a slight recovery in the first ten minutes of transactions. At 13:00h, immediately after the announcement that the Government ordinance that introduces new fiscal measures targeting, in particular, the banking, energy and telecoms sectors, is on the additional agenda of the Government sitting, the stock exchange figures have again begun to fall sharply. At 13:00h, all indices were on the red, as well as the quotations for most major companies.

The figures at 13:00h showed that against 12:00h, all indices went on the red, with BET Index depreciating by almost 4%, while the BET-NG index, which tracks the quotations of the most important energy companies listed on the BVB, was close to minus 5%.

Energy companies’ shares, after a short rebound, went also on the red: Romgaz (-11%), Nuclearelectrica (-3.70%), Electrica (-3.81%), OMV Petrom (-1.32%).

The shares of Banca Transilvania and BRD, which had the largest losses on Wednesday, after a short comeback at the beginning of the session, started to fall again by -3.83% and by -4.67%, respectively.

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