EnglishBonds were the highlight of the day on the Bucharest Stock Exchange (BVB) yesterday, as trading reached a total of 9.7 million RON. Over 90% of the liquidity on this segment (2.4 million EUR) was generated by the sale of bonds issued by the International Bank for Reconstruction and Development (IBRD). Such bonds were traded for 916.13 RON, equal to 90.39% of their face value. The price was by 1.8% lower than on Friday. The overall value of IBRD bond transactions since the beginning of November has reached 25.1 million RON. Some 540,000 RON in bonds issued by Banca Comerciala Romana (BCR) were also traded yesterday. While saying that the current prices of bonds are extremely low following a long period of decline, brokers still advise caution. In the meantime, investors prefer fixed-return placements, which have been more traded in the recent past.
Bonds Generated Half of BVB"s Turnover Yesterday
ADINA ARDELEANU
Ziarul BURSA #English Section / 26 noiembrie 2008
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