Romania's Stock Exchange loses 2.35% amid presidential election concerns
<p>The blue chips index BET at the Bucharest Stock Exchange lost 2.35% on December 3 in a session dominated by volatility and lack of predictability, which started with a 0.76% advance building on positive dynamics on the first day after the parliamentary elections that indicated a possible democratic coalition.&nbsp;</p>

<p>By the end of the day, however, BET ended with the sharpest decrease since the 3.6% on August 5 and the second largest since the beginning of the year, <a href="https://www.zf.ro/burse-fonduri-mutuale/incertitudinea-cuvant-ordine-bursa-valori-bucuresti-bet-pierde-2-4-22590574?mc_cid=a587ff2a56&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Ziarul Financiar</a>&nbsp;reported.&nbsp;</p>

<p>The decreases were recorded almost from top to bottom, with Antibiotice Iasi (BVB: ATB) dropping by 7.6%, TTS (BVB: TTS)&nbsp;by 6%, Sphera (SPH) by 5%, Purcari (WINE) by 4.9%, and TeraPlast (TPL) by 4.3%.</p>

<p>The plunge reflects investors' increasingly cautious stance as they get familiar with ultranationalist independent candidate Calin Georgescu's economic agenda: a combination of etatism, nationalism, and new-ageism.&nbsp;</p>

<p>The lack of political clarity among the political parties and the Social Democrats' readiness to negotiate with the nationalist parties for the formation of a ruling coalition have contributed to the deterioration of investors' sentiment.</p>

<p>The sharp loss on December 3 came after, on December 2, the stock market rose by 0.6% as a result of the weekend parliamentary elections; in the second trading session of the week, the cumulative capitalization of listed issuers lost RON 3.3 billion (EUR 660 million).</p>

<p>"The stock market movements during this period are related to the perception of investors regarding the elections, the speeches of political leaders related to the formation of a new government, the political support for the presidential elections, and implicitly the level of predictability regarding a future economic policy from the state in a macro context/ microeconomic," commented Costin Brumă, broker at Swiss Capital.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: Inquam Photos/George Calin)</em></p>