Ukraine Crisis Fallout Felt in Romania as Stock Trading Slumps
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Romania’s stock exchange chief warned that the country risks being passed over by investors as the state privatization program stalls and Ukraine’s conflict grinds on with no sign of easing.
Trading in Romanian stocks has fallen 15 percent because of the year-long bloody separatist movement in Ukraine across the Black Sea and a lack of initial public offerings and consumer-oriented stocks in Bucharest, Ludwik Sobolewski, the head of the Bucharest Stock Exchange, said in an interview on Friday. The bourse’s average daily turnover declined 38 percent from last year to about 7.3 million euros ($8 million), the lowest level since 2012.