The Bucharest stock market dropped by 4.45 percent yesterday, due to corrections on Western European markets and also triggered by the exit of a foreign investor from the stock market, according to Mediafax newswire. The market saw the sale of 7 percent of the shares in Banca Carpatica yesterday, which covered most of the market liquidity of the trading session. The total volume of trading yesterday was of EUR 12.6 million, which was almost double on the trading in the previous day.

The drop on the Bucharest Stock Exchange may have also been caused by the rumors of tax and VAT increase in Romania, fueled by media reports quoting sources closer to the negotiations between the Government and the International Monetary Fund (IMF).