Acasă » General Interest » Economics&Markets » The Catalan vote hits the markets, the BSE ends up in due to pension crisis

The Catalan vote hits the markets, the BSE ends up in due to pension crisis

28 October 2017
Economics&Markets
Bogdan Tudorache

Shares listed on the Bucharest Stock Exchange have suffered a fall on Friday, the day of the vote of the Catalan independence. The main stock market indicators closed down after a few days of unrest caused by the changes announced by the government in the private pension system. Analysts argue that BSE indices are falling due to the pension crisis, rather than due to external influences.

“I do not think that the vote in Catalonia has affected the BSE, we have the problem with pension funds in Romania … It is a structural problem, if the funds will substantially reduce their assets, we will not have strong Romanian investors … This will greatly affect the value of the shares, which will be far below potential … If it happens like in Hungary and Poland,” Mihai Căruntu, Head of BCR’s Capital Markets, told energynomics.ro.

Main BSE indices are made up of energy and financial titles.

Spanish shares accelerated losses, Spain’s 10-year government bond yields hit a day high and the euro dipped against the dollar on Friday after Catalonia’s regional parliament declared independence, according to Reuters.

Spain’s IBEX fell as much 2.1 percent to a four-day low and euro zone banking shares .SX7E as much as 1.8 percent.

Markets stabilised somewhat after Spanish Prime Minister Mariano Rajoy tweeted that the rule of law would “restore legality” in Catalonia and called for calm.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.

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