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Foreign investors bring €300 mln to Romanian stock exchange in H1

Foreign investments in the Bucharest Stock Exchange (BVB) reached €297.05 million ($405.03 million) during the first six months of 2007, increasing by over 75% from 2006, local media reported on Monday.

Liquidity mainly grew against the background of Romania's EU entry, which improves the outlook of the Romanian market, the national Rompres news agency cited the local brokers as saying. Foreign investors' acquisitions last month reached a record €229.2 million ($312.5 million), mainly as a result of the Cadbury Schweppes Group's transaction worth €99.5 million ($135.6 million) to purchase Kandia Excelent sweets maker.

On the other hand, the non-residents' buying again exceeded the 50% ceiling. This ceiling was first exceeded in February. At the same time, the foreigners' net buying was higher than that in May, attaining €35.9 million ($48.9 million), up by 49%. In June, the foreign investors' acquisitions accounted for 54.9% of the total value.
The increasing liquidity already is a strong tendency and will continue in the year ahead, said Razvan Pasol, chairman of the Intercapital Invest brokerage firm. (