BVB Monthly Report December 2018 For further information ... 2018.pdf · BVB Monthly Report –...

BVB Monthly Report – December 2018 For further information: Florin Cepraga, Senior PR Specialist, +40.740.246.487, [email protected]

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mailto:[email protected]


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BUCHAREST STOCK EXCHANGES DROPS NEARLY 5 PERCENT IN 2018. ONLY THE TOTAL RETURN INDICES STAY POSITIVE Lucian Anghel, BVB President: The Romanian capital market went in the negative territory last year

following a 4.77 percent drop of the BET index. The BET-TR index, which also includes the dividends, managed to stay positive, up by 4.3 percent, which – considering the market conditions from the end of 2018 – can be regarded as an outstanding performance

Adrian Tanase, BVB CEO: The investors need the legislation to be predictable in order to fairly evaluate the opportunities offered by the capital market, where Romanian companies representing about 10 percent of Romania’s Gross Domestic Product operate.

Bucharest Stock Exchange (BVB) reported a market decline of 4.77 percent at the end of 2018 for the BET index, the main index of the Romanian capital market including the most traded 15 companies. The downward trend was triggered on December 19th, following the public information regarding additional taxation in banking, energy and telecom sectors, as well as changes in the Pillar II pension system. On that day, the BET index plummeted by 11.21 percent, wiping out in a single day the entire increase the capital market had seen in the entire year. Prior to this day, namely from December 18th, to the last trading session of 2018, namely December 31st, the main index of the Romanian capital market dropped by over 12 percent. The Bucharest Stock Exchange ended last year in the red following a nearly 5 percent drop. Only the total return indices, which also include the dividends, managed to stay on the plus side at end of the year. The BET-TR index, which also includes the dividends paid by the companies in the BET index, posted the largest growth. "The Romanian capital market went in the negative territory last year following a 4.77 percent drop of the BET index. The BET-TR index, which also includes the dividends, managed to stay positive, up by 4.3 percent, which – considering the market conditions from the end of 2018 – can be regarded as an outstanding performance", said Lucian Anghel, President of the Board of Governors at BVB. "The investors need the legislation to be predictable in order to fairly evaluate the opportunities offered by the capital market, where Romanian companies representing about 10 percent of Romania’s Gross Domestic Product operate. That is precisely why the investors pay special attention to the activities of political decision makers as they influence the business environment and the listed companies", said Adrian Tanase, CEO of BVB. The average daily trading value for equities went up by 5.4 in RON equivalent in 2018 and exceeded RON 45 million (some EUR 10 million), while the total trading value for all types of financial instruments surged by 1.8 percent and amounted to RON 14 billion (some EUR 3 billion). The market capitalization of the Romanian companies was EUR 18 billion by the end of the year, while the capitalization of all the companies listed on the Main Market of BVB accounted for EUR 30 billion at the end of the last trading session from December.


http://www.bvb.ro/

http://www.bvb.ro/FinancialInstruments/Details/FinancialInstrumentsDetails.aspx?s=BVB


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BVB Monthly Report

Trading value on BVB Regulated Spot Market

DECEMBER 2018

A. Summary of Main Indicators

1. Trading value on the BVB’s Regulated Spot Market for December 2018 compared with November 2018

Total trading value December 2018

Total trading value November 2018

% Change

RON mil. EUR mil. RON mil. EUR mil. RON EUR

Financial instruments already issued / registered

2,020.48 434.03 885.31 189.95 128.22 128.50

Equities 1,986.67 426.76 863.08 185.18 130.18 130.46

Bonds 2.50 0.54 2.49 0.53 0.40 1.89

Unit funds, ETF 1.29 0.28 0.38 0.08 239.47 250.00

Structured products 30.03 6.45 19.37 4.16 55.03 55.05

New Issues and further issues 23.24 4.99

Equities

Bonds 23.24 4.99

Total Regulated Spot Market, out of which:

2,043.72 439.02 885.31 189.95 130.85 131.12

Total Equities 1,986.67 426.76 863.08 185.18 130.18 130.46

Total Bonds 25.74 5.53 2.49 0.53 933.73 943.40

2. Trading value on the BVB’s Regulated Spot Market for December 2018 compared with December 2017 (YoY)



YoY % Change

RON mil. EUR mil. RON mil. EUR mil. RON


2,020.48 434.03 884.74 190.98 128.37

Equities 1,986.67 426.76 853.71 184.28 132.71

Bonds 2.50 0.54 5.80 1.25 -56.90

Unit funds, ETF 1.29 0.28 1.04 0.22 24.04

Structured products 30.03 6.45 24.19 5.22 24.14

New Issues and further issues 23.24 4.99 58.03 12.52 -59.95

Equities

Bonds 23.24 4.99 58.03 12.52 -59.95



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Total Regulated Spot Market, out of which

2,043.72 439.02 942.77 203.50 116.78

Total Equities 1,986.67 426.76 853.71 184.28 132.71

Total Bonds 25.74 5.53 63.83 13.77 -59.67

3. The value traded on the BVB’s Regulated Spot Market for January - December 2018 compared with January - December 2017 (YTD)

Total trading value January - December 2018

Total trading value January - December 2017

YTD % Change



13,106.88 2,815.13 11,824.64 2,586.80 10.84

Equities 11,271.13 2,421.20 10,650.99 2,330.37 5.82

Bonds 1,490.74 319.80 896.79 195.78 66.23

Unit funds, ETF 9.52 2.05 12.67 2.77 -24.86


New Issues and further issues 882.47 189.18 1,916.50 419.00 -53.95

Equities 186.20 39.99 1,244.28 272.82 -85.04

Bonds 696.27 149.19 672.21 146.18 3.58

Total Regulated Spot Market, out of which:

13,989.35 3,004.31 13,741.14 3,005.80 1.81

Total Equities 11,457.33 2,461.19 11,895.27 2,603.19 -3.68

Total Bonds 2,187.01 468.99 1,569.00 341.96 39.39

4. The average daily value on the BVB’s Regulated Spot Market for December 2018 compared with

November 2018

Average daily value December 2018

Average daily value November 2018

% Change

RON mil. EUR mil. RON mil. EUR mil. RON EUR


Equities 104.56 22.46 41.10 8.82 154.40 154.65

Bonds 0.13 0.03 0.12 0.03 8.33 0.00

Unit funds, ETF 0.07 0.01 0.02 0.00 250.00 1.00

Structured products 1.58 0.34 0.92 0.20 71.74 70.00

New Issues and further issues

Equities

Bonds 1.22 0.26

5. The average daily value on the BVB’s Regulated Spot Market for December 2018 compared with

December 2017 (YoY) age



YoY % Change



Equities 104.56 22.46 47.43 10.24 120.45



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Bonds 0.13 0.03 0.32 0.07 -59.38

Unit funds, ETF 0.07 0.01 0.06 0.01 16.67



Equities

Bonds 1.22 0.26 3.22 0.70 -62.11

6. The average daily value YTD on the BVB’s Regulated Spot Market

Average daily value YTD 2018

Average daily value YTD 2017

YTD % Change



Equities 45.27 9.72 42.95 9.40 5.40

Bonds 5.99 1.28 3.62 0.79 65.47

Unit funds, ETF 0.04 0.01 0.05 0.01 -20.00



Equities 0.75 0.16 5.02 1.10 -85.06

Bonds 2.80 0.60 2.71 0.59 3.32

7. The evolution of indices

Index Value for

12/31/2018 % Change

December 2018 % YTD

Index values forDecember 2018

RON EUR RON EUR RON EUR minimum maximum

BET 7,383.68 5,506.32 -14.79 -14.93 -4.77 -4.86 6,961.86 8,786.58

BET-TR 10,870.97 10,475.13 -13.94 -14.08 4.30 4.21 10,260.49 12,806.87

BETPlus 1,109.85 1,044.76 -14.14 -14.29 -4.77 -4.85 1,046.93 1,310.51

BET-FI 34,636.37 16,087.93 -5.45 -5.61 -12.63 -12.71 32,753.97 36,945.01

BET-XT 680.44 504.12 -13.82 -13.96 -7.62 -7.70 642.73 799.20

BET-BK 1,459.26 1,329.33 -11.42 -11.57 -11.63 -11.71 1,385.27 1,661.26

BET-XT-TR 1,012.68 962.57 -13.06 -13.20 0.48 0.40 957.25 1,178.94

BET-NG 603.34 447.41 -17.57 -17.71 -7.41 -7.49 582.80 736.87

ROTX 15,336.78 -14.50 -3.89 14,457.49 18,191.90

8. Market Indicators

RON mil. EUR mil.

Market capitalization (regulated market) 142,986.11 30,658.06

Market capitalization (domestic market) 84,695.58 18,159.82

Turnover velocity (regulated market) 16.67 16.70



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Turnover velocity (domestic market) 28.05 28.11

PER 7.67

P/BV 0.83

DIVY 10.11

B. Specific Market Indicators

1. Trading value and market capitalization by activity sector

Sector Trading value

(RON mil.)

Market capitalization

(RON mil.) PER PBV DIVY

FINANCIAL AND INSURANCE ACTIVITIES 808.58 88,576.81 8.98 0.97 8.34

MINING AND QUARRYING 238.90 27,755.63 6.15 0.75 13.59

MANUFACTURING 745.56 9,608.81 7.62 1.09 5.34

TRANSPORTATION AND STORAGE 42.24 4,581.08 6.89 0.92 13.68

PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES

73.04 4,121.90 13.00 0.86 5.95

ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY

60.16 4,038.93 12.15 0.40 20.38

HUMAN HEALTH AND SOCIAL WORK ACTIVITIES

4.45 593.49 3.86

CONSTRUCTION 1.17 328.49 5.96 0.57 4.61

ACCOMMODATION AND FOOD SERVICE ACTIVITIES

0.54 244.71 35.49 0.43 1.52

WHOLESALE AND RETAIL TRADE; REPAIR OF MOTOR VEHICLES AND MOTORCYCLES

1.89 244.27 12.17 0.97 5.75

Other 10.13 2,892.00

Note: - PER is calculated based on market capitalization of companies which recorded profit - P/BV and DIVY are computed for domestic companies



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2. Top 5 listed shares by turnover – December 2018

Symbol Security name Turnover

for the month (RON mil.)

Turnover for the month

(EUR mil.)

Weight in total turnover shares

(%)

ALR ALRO S.A. 730.98 156.96 36.79

TLV BANCA TRANSILVANIA S.A. 467.49 100.44 23.53

BRD BRD - GROUPE SOCIETE GENERALE S.A. 155.74 33.46 7.84

SNG S.N.G.N. ROMGAZ S.A. 133.12 28.61 6.70

SNP OMV PETROM S.A. 105.74 22.72 5.32

3. Top 5 listed shares with highest increase – December 2018

Symbol Security name End of period

return (%)

YTD (%) Low price

(RON)

High price

(RON)

Last price

(RON)

RPH ROPHARMA SA 23.23 -4.89 0.2700 0.3300 0.3500

ECT GRUPUL INDUSTRIAL ELECTROCONTACT S.A.

14.81 15.67 0.0135 0.0160 0.0155

UZT UZTEL S.A. 14.16 -14.10 1.2000 1.3500 1.3700

VESY VES SA 11.26 -36.69 0.0305 0.0415 0.0395

ARM ARMATURA S.A. 8.47 -46.21 0.1180 0.1280 0.1280

4. Top 5 listed shares by market capitalization 12/31/2018)

Symbol Security name Market capitalization

P/BV PER

(RON) DIVY

(RON) RON mil. EUR mil. % RON

EBS Erste Group Bank AG 57,958.53 12,427.05 40.53

SNP OMV PETROM S.A. 16,936.59 3,631.42 11.84 0.61 7.06 6.68

SNG S.N.G.N. ROMGAZ S.A. 10,714.74 2,297.38 7.49 1.15 5.78 24.64

TLV BANCA TRANSILVANIA S.A. 9,649.02 2,068.87 6.75 1.38 8.14 6.32

FP FONDUL PROPRIETATEA 8,102.56 1,737.29 5.67 0.87 25.72 7.29



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5. Top 5 structured products by turnover – December 2018


for the month (RON mil.)

Turnover for the month

(EUR mil.)

Weight in total turnover

structured products (%)

BKDOWTS61 BRK Dow Turbo Short 26750 5.36 1.15 17.84

BKDOWTS64 BRK Dow Turbo Short 26050 3.90 0.84 12.99

BKDOWTL57 BRK DOW TURBO LONG 23350 3.58 0.77 11.92

EBDOWTL6 EB DJ TURBO LONG 0,01/22.500/23.000 1.88 0.40 6.26

BKDOWTL59 BRK Dow Turbo Long 23950 1.43 0.31 4.78

6. Top 5 bonds products by turnover – December 2018


for the month (RON thous.)

Turnover for the month (EUR thous.)

Weight in total turnover Bonds

(%)

IMP22E IMPACT DEVELOPER & CONTRACTOR Bonds 2022 EUR

1,018.41 219.42 40.79

PMB20 OBLIGATIUNI MUN. BUCURESTI 2020 507.16 109.10 20.31

B1904A MINISTERUL FINANTELOR PUBLICE 492.02 105.74 19.70



7. Unit funds (including ETF) by turnover – December 2018

Symbol Security name

Turnover for the month (RON

thous.)

Turnover for the month (EUR thous.)

Weight in total turnover Unit

funds, ETF (%)

TVBETETF FOND DESCHIS DE INVESTITII ETF TRADEVILLE

725.50 155.93 56.12

STK STK EMERGENT 567.36 122.01 43.88

8. IPO, SPO and other offer markets – December 2018

Symbol Security name Instrument

type Type of offer

Turnover (RON mil.)

ALR ALRO S.A. Shares Offers without prospect for currently

723.11



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registered financial instrument

IDB24E Obligatiuni euro IDB 2024 Bonds Offers without prospectus for new issues

23.24

9. New listings for December 2018

Symbol Security name Instrument type Listing Date

EBEUSDTL18 EUR/USD TURBO LONG 10/0.9950/1 Structured 12/6/2018

EBVWTL6 VOLKSWAGEN VZ TURBO LONG 0.10/135/140 Structured 12/6/2018

EBWTITS38 WTI LIGHT SWEET TURBO SHORT 1/76/74 Structured 12/6/2018

EBEUSDTS19 EUR/USD TURBO SHORT 10/1.3050/1.3000 Structured 12/6/2018

EBDBKTS17 DEUTSCHE BANK TURBO SHORT 0.10/12/11 Structured 12/6/2018

EBEUSDTS20 EUR/USD TURBO SHORT 10/1.2050/1.2000 Structured 12/6/2018

EBDAXTL62 DAX INDEX TURBO LONG 0,01/9.250/9.500 Structured 12/6/2018

EBBMWTS8 BMW TURBO SHORT 0.10/89/84 Structured 12/6/2018

EBDAXTS64 DAX INDEX TURBO SHORT 0,01/12,550/12,300 Structured 12/6/2018

EBEUSDTL17 EUR/USD TURBO LONG 10/1.0950/1.1000 Structured 12/6/2018

EBWTITS37 WTI LIGHT SWEET TURBO SHORT 1/70/68 Structured 12/6/2018

BKDOWTL60 BRK Dow Turbo Long 22650 Structured 12/10/2018

BKDOWTS64 BRK Dow Turbo Short 26050 Structured 12/10/2018

BKDBKTL3 BRK DBK TURBO LONG 5.30 Structured 12/21/2018

BKDBKTS3 BRK DBK TURBO SHORT 11.80 Structured 12/21/2018

BKDBKTL4 BRK DBK TURBO LONG 6.30 Structured 12/21/2018

BKDBKTS4 BRK DBK TURBO SHORT 10.10 Structured 12/21/2018

B2902A MINISTERUL FINANTELOR PUBLICE Bonds 12/24/2018



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Methodological notes Section A. Summary of Main Indicators

1. Financial instruments already issued – this category includes all the statistical data related to the existing

financial instruments, regardless of the type of the operations carried out. The total values traded as well as the average daily value for this category are based on:

trading operations performed on regular, deal;

offers and operations performed with the existing financial instruments such as: buy offer, takeover offer, secondary offer for selling the existing financial instruments, other methods of selling the existing financial instruments, offers without prospectus or with simplified prospectus for currently issued financial instruments.

2. New issues and further issues – this category contains the statistical data related to the issuance of new

instruments based on the primary / initial offers as well as data regarding the increase of the capital for already listed companies, based on further issues. This category is related to the capital raised by the issuers.

3. The total value traded is single counted.

4. The total value traded expressed in EUR is calculated considering the daily EUR value, based on the currency rate available for each trading session.

5. Equities includes shares and rights.

6. Bonds includes all types of bonds available for trading at BVB (municipal, corporate, government securities).

Section B. Specific Market Indicators

Trading value displayed in this section for a financial instrument includes the turnover registered in all market in which the respective financial instrument is traded. Bucharest Stock Exchange undertakes all the reasonable efforts to ensure that data included in this document was correct

at the time of publication. However, Bucharest Stock Exchange shall not be responsible or liable for decisions taken or

system-related or other activity performed by any part based on this report.


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