INVESTORS' FORUM - 2024 Positive prospects for the our's capital market

The prospects for the capital market in our country are positive despite the fact that 2024 is an election year, in which political decision-makers are tempted to take stimulating measures, to the detriment of restrictive ones, stated the majority of participants at the third edition of the Investors Forum organized by Ziarul BURSA.

Even if Steen Jakobsen, Chief Investment Officer of Saxo Bank, made a discordant note claiming that "2024 will be a lost year", given that elections are held in half of the world's states, Petr Koblic, the president of the Federation of European Stock Exchanges (FESE) ) and the General Director of the Prague Stock Exchange stated that the success of last year's listing of the Hidroelectrica company must be promoted to other companies aiming to list on the Romanian stock exchange.

Stere Farmache, the president of the Directorate of the Romanian Guarantee Fund (FRC) stated that the stock exchanges should not only look for large companies, which are more attractive, but "must ensure sufficient channels for small companies as well, this being one of the market's requirements single European capital, according to which the markets must become accessible to all companies" so that investors have a much greater range of action.

Alin Brendea, the operations director of Prime Transaction, said that this year there are enough opportunities in the local capital market, but he specified that "at this moment, the attitude must be more cautious and, from our point of view, the slightly in the short term, there are two alternatives that investors could focus more strongly on: (...) the top 10 issuers on BET-BK or the median of the dividends we expect, around 8%, which is above inflation in this moment, which would provide a satisfactory return under conditions of relatively low risks".

One of the challenges that the actors in the capital market have this year is to increase the number of people who want to save through financial instruments listed on the stock exchange, in order to increase liquidity and fulfill the indicators for the promotion of BVB as an emerging market to MSCI, said Andrei Nedelcu, Director of Investments SAI Erste Asset Management, while Ovidiu Demetrescu, Partner OCD Capital&Resource and London Brokers said: "2025 will be the first year we will be presented with the bill because in 2024 no politician entering an electoral race will not make fiscal or strategic decisions with major impact, but will try to play a status quo card, in order to preserve its position".

Gheorghe Piperea, Founding Partner of Piperea and Associates. drew attention to the fate of securities after the bankruptcy of the issuing companies and to several cases of manipulation of the capital market, among which, in his lordship's opinion, what happened last month with the shares of the Canadian company Gabriel Resources whose value doubled after some political decision-makers from Bucharest announced that it is possible to lose the case regarding Roşia Montană and to pay billions of dollars in compensation, but in reality the decision pronounced later was favorable to the Romanian state.

You can learn more about the topics discussed at the third edition of the Investor Forum in the articles published today in the pages of the BURSA newspaper.