Crisis impact on local companies

Publish date: 16-10-2008
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The stock market, the real estate and energy sectors were the first to feel the impact of the global financial crisis. Construction materials producers, companies on the auto market and media are waiting for things to stabilize, while companies in retail and law fields say they have no reason to worry.

Bucharest Stock Exchange (BVB) indexes declined by 5 percent yesterday, after two days of significant growth, with the worst impact on financial investment companies (SIF), which had their quotation down by 9.2 percent. Romania's largest company, Petrom, lost some 11 percent.

Besides the listed companies quotation decline, the crisis has not yet impacted on the energy sector, in terms of consumption reduction. However, companies in the field saw their business affected by leu depreciation, which led to higher costs for fuel imports, according to major market players for Business Standard.

Business Standard

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