LUCIAN ANGHEL: "We can't expect the BSE to move to the emerging market status now"

We can't expect Romania to be upgraded to the emerging market status right now, BSE president Lucian Anghel said yesterday, as FTSE Russell will publish today its annual classification report.

He said: "As far as the announcement which the FTSE is supposed to make at the closing of the American market (ed. note: Friday), a rather mistaken idea was inoculated into the market. Every market is kept on the watchlist for at least 12 months, and then the review is performed.

We can't expect Romania to be upgraded now. We will probably have to wait for next year's decision, to see how we're going to evolve and how we increase liquidity indicators. But certainly, by the way volumes have increased so far, we can be optimistic and confident for next year".

Lately, Anghel's statements have been aimed at dampening the enthusiasm of former CEO Ludwik Sobolewski.

Last autumn, when FTSE Russell placed Romania on the watchlist in order to be upgraded to the emerging market status, Sobolewski was saying: "The stock market has the chance to quickly get a significant victory; we are close to being promoted to the emerging market status".

In May, Anghel suggested 2020 would be the deadline for Romania to become an emerging market.

FTSE Russell found that the BSE still needs to meet the liquidity criteria, in order to be promoted to emerging market status.

When, in March, FTSE Russell found that the BSE had not made any progress compared to September 2016, the BSE started issuing press releases that it was expected a promotion by another agency (MSCI).