The main index of the Romanian stock market - BET - which reflects the evolution of the most liquid shares listed on the Bucharest Stock Exchange (BVB), closed the Tuesday trading session at 10,844 points, a new all-time high.

BVB thus became the first stock exchange in the region whose main price return index exceeded the record set before the 2008 financial crisis, according to BVB representatives.

“It is a moment of joy for the entire capital market community. It is the result of the work of all capital market stakeholders, companies and, especially, investors,” said Radu Hanga, Chairman of BVB’s Board of Directors.

The significant dividend yields offered by the companies listed on BVB also helped boost the share prices to new highs, according to Hanga. The BET-TR index, which also includes the dividends distributed by companies in the BET index, has been at historical highs for several months.

“The outlook for this year is promising, as we see attractive dividend estimates, some even very good compared to the low interest rates on deposits. At the same time, the inclusion of several Romanian companies in the FTSE Russell indices will continue to put Romania in an optimistic light in front of investors,” Hanga said.

The previous record set by BET at the close of a trading session (10,814 points) was on July 24, 2007, before the outbreak of the 2008-2009 financial crisis, which affected all markets. After that, the BET lost more than 80% of its value until February 2009, when its value dropped under 1,900 points. Since that low point, the BET’s value increased 5.6 times. This year, the BET is up 10.6%.

andrei@romania-insider.com

(Photo source: Inquam Photos/Diana Oros)