Bucharest Stock Exchange had an extremely positive response to the US Federal Reserve plan aimed at easing the American financial crisis, the same as the international bourses, according to a report of Transilvania Asset Management Bank (BTAM).
The Romanian capital market plummeted more than the international markets lately, and the rises on September 19 were higher than the European average, the majority of liquid companies attaining the maximum growth level of 15%, BET Index with an increase of 9.3% and BET-FI – 14.5%.
At the international level, the capital markets were facing a week of extremes. The start of the week was negative, given the Lehman Brothers bankruptcy, continuing with the latest moment salvation of AIG, as well as with the problems encountered by British HBOS Bank and ended with spectacular increases in the latest trading session.
The end of the week increases were galvanized by the measure of the US Cabinet according to which it is setting up a state investment vehicle set to acquire a large range of fixed income instruments, including the mortgages. Thus, the companies in the financial system that hold these instruments will be able to sell them to the government.
The plan would cost the American state half a billion dollars, but would eliminate from the market part of the risking financial instruments, bringing stability into the system. Another important contributions to September 19 increases were the measures of limiting the trading in the absence in the USA.