BURSA 04.07.2017

Adina Ardeleanu (translated by Cosmin Ghidoveanu)
 
mărește imaginea
     *  A new blunder, trademark Toma Petcu: "Energy companies do not have investments in the pension funds "
       While Agriculture Minister Petre Daea causes amusement through his speeches about sheep, Energy Minister Toma Petcu seems to be the champion of blunders.
     Very sure of himself, the Energy Minister yesterday explained how the stocks of companies in his ministry's portfolio shouldn't have been affected by the statements of Finance Minister Ionuț Mișa concerning the elimination of the Second Pillar of private pensions, which were later retracted. The reason that Toma Petcu provided was mind-boggling: because the energy companies do not have investments in the Second Pillar pension funds.
     With such an explanation, you don't know whether to laugh or cry.
     You're just left stunned.
     But Toma Petcu, doesn't ask questions, he just utters nonsense nonchalantly. He even seems proud to be tackling such a difficult topic as finance.
     The Energy Minister was asked about the effects of the statements made by Ionuț Mișa on the stocks of energy companies.
     We hereinafter reproduce the answer of Toma Petcu, which he could have kept brief in order to avoid the point where he started talking nonsense: "This is not the first time when the stock market developments of all the companies, not just those in the energy sector, may have significant drops or rises.
     During these two days, today is the third (ed. note: since the statement of Ionuț Mișa), I have no knowledge of transactions having been made, in other words sales of shares in companies in which the ministry is a majority and maybe even a minority shareholder, therefore we can't speak about concrete losses at the moment, out of the price difference.
     I hope and I am convinced, that the stock market will slowly get back to the previous values and maybe even go higher, as far as the stocks of energy companies are concerned.
     I think that we would have actually seen a significant impact if major transactions actually existed. Sure, we don't want the evolution of the stock market to be a fluctuating one and especially one with negative fluctuations. If those statements affected anything, they should have probably affected first of all those companies that have investments in Second Pillar pension funds. I don't know any companies in the portfolio of the Ministry of Energy having that kind of investments. I think it was a chain reaction, of all the companies, of the stock market in general. It was a reaction. I am convinced that this week, that thing will get resolved".
     Thursday, specialists criticized the statement of the new Finance Minister, Ionuț Mișa, concerning the elimination of the 2nd Pillar Private Mandatory Pensions, and the subsequent retraction by Mihai Tudose, Liviu Dragnea and by Ionuț Mișa himself, especially since those blunders actually took place while the trading session was open and led to significant drops.
     Toma Petcu didn't understand what it was about and apparently didn't ask for clarifications.
     Mr. Toma Petcu, 2nd Pillar is the name given to the privately managed pension system, with set contributions, which are mandatory for people below 35 years of age, and optional for people aged 35 to 45.
     Meaning it is citizens that have "investments" in the 2nd pillar pension funds, not companies.
     The private pension fund proposes for the participants' money to be invested in the long term and not spent right away, and the participants have the right of ownership over the personal account in which their retirement money is being collected.
     In other words, the employees contributions' are collected by the private pension funds and invested by the fund managers in various assets.
     On May 19th, exactly 9 years after the actual launch of the 2nd Pillar, the number of participants in these funds has reached almost 6.9 million Romanians, and the net assets under management have exceeded 35.1 billion lei (7.7 billion Euros), according to the APAPR.
     At the end of April, 20% of the assets of 2nd Pillar pension funds were invested in shares listed on the Stock Exchange, meaning also in shares that were part of the portfolio of the Energy Ministry.
     The elimination of the 2nd Pillar, as Ionuț Mișa initially announced, meant the liquidation of the private pension funds, meaning the sale of all the assets in their portfolios. Just to make it clear to Mr. Toma Petcu, that meant a selling pressure on the shares of those companies. That is why investors who chose to sell immediately after the statement of the Finance Minister chose to sell.
     No, Mr. Toma Petcu, the companies didn't lose anything. Their market value dropped. Meaning, anybody looking to sell, hypothetically speaking even the Energy Ministry, will find buyers at lower prices. 
 

 
Readers' comments    [ add a comment ] 
Aceeasi sectiune (English Section)
CEC BANK CHAIRMAN REACTS TO THE STATEMENTS OF LUCIAN ISAR:
THE WEAKNESS OF THE MANAGEMENT OF THE BSE IN ACTION
IN 2012, THE OPENING OF THE BIDS FOR THE PRIVATIZATION OF THE PLANT TOOK PLACE IN THE PRESENCE OF THE PRESS
FINES OF 337,000 LEI, FOR ABUSIVE CLAUSES IN LENDING CONTRACTS
Ediții precedente
Newsletter Facebook Twitter YouTube LinkedIn RSS
Jurnal Bursier
27.07.2017
BVB
     * Lichiditate de doar trei milioane de euro
       Ședința de tranzacționare de la mijlocul săptămânii a fost marcată de o lichiditate redusă, de numai 13,85 mi¬lioa¬ne de lei (3,03 milioane euro), de peste trei ori mai mică față...  detalii
27.07.2017
BURSELE DIN LUME
     Acțiunile tranzacționate la piețele din Europa au cres¬cut ieri, pentru a doua zi la rând, datorită rezultatelor pozitive anunțate de companii.  detalii
26.07.2017
BVB / LICHIDITATE DE PESTE 140 MILIOANE DE EURO
     * 95% din rulajul total, realizat prin finalizarea ofertei derulate de instituția bancară
       Piața Bursei de Valori București (BVB) a fost dominată, în ședința de tranzacționare de ieri, de raportarea încheierii ofertei publice derulate cu obligațiuni lansate de "Unicredit Bank".  detalii
26.07.2017
BURSELE DIN LUME
     Acțiunile companiilor listate la bursele din Europa au urcat ieri, pentru prima oară în ultimele patru zile, în baza rezultatelor financiare anunțate de companii.  detalii
25.07.2017
BVB
     * Săptămâna a debutat cu scăderi, pe o lichiditate de doar 6 milioane de euro
      * Titlurile "SIF Banat-Crișana", cele mai lichide
       Opt din indicii Bursei de Valori București (BVB) au încheiat prima ședință de tranzacționare a săptămâ¬nii în teriroriul negativ, în contextul în care a fost înregistrat un volum de...  detalii
25.07.2017
BURSELE DIN LUME
     Acțiunile companiilor listate la bursele din Europa au scăzut ieri, sectorul auto consemnând cele mai mari pierderi, după ce Guvernul de la Berlin a confirmat că autoritățile de concurență...  detalii
Cotații Internaționale

Curs Valutar

Curs valabil din data de 26 iulie 2017
1 Dolar australian...
1 Leva bulgărească...
1 Dolar canadian....
1 Franc elvețian...
1 Coroană cehă...
1 Coroană daneză...
1 Liră egipteană...
1 Euro...
1 Liră sterlină...
100 Forinți maghiari...
100 Yeni japonezi...
1 Leu moldovenesc...
1 Coroană norvegiană...
1 Zlot polonez...
1 Rublă rusească...
1 Coroană suedeză...
1 Liră turcească...
1 Dolar S.U.A...
1 Rand sud-african...
1 Real brazilian...
1 Renminbi chinezesc...
1 Rupie indiană...
100 Woni sud-coreeni...
1 Peso mexican...
1 Dolar neo-zeelandez...
1 Dinar sărbesc...
1 Hryvna ucraineană...
1 Dirham emirate arabe...
1 Kuna croată...
1 Bahtul thailandez...
1 Gram aur...
1 DST...
AUD
BGN
CAD
CHF
CZK
DKK
EGP
EUR
GBP
HUF
JPY
MDL
NOK
PLN
RUB
SEK
TRL
USD
ZAR
BRL
CNY
INR
KRW
MXN
NZD
RSD
UAH
AED
HRK
THB
XAU
XDR
3,1028
2,3330
3,1381
4,1008
0,1753
0,6136
0,2188
4,5628
5,1101
1,4902
3,5086
0,2160
0,4909
1,0709
0,0655
0,4768
1,1015
3,9248
0,3008
1,2370
0,5811
0,0610
0,3506
0,2211
2,9140
0,0378
0,1522
1,0685
0,6156
0,1172
157,2684
5,4986
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
click aici pentru cursurile pieței valutare - istoric
English Section
26.07.2017
SOURCES CLOSE TO THE SITUATION:
     * Sources: "A large segment of the price asked for the Mariott building represents the loan contracted by Grand SRL and guaranteed by the state"
     * Dedeman wants to buy the Marriott complex, according to our sources
     * AFI Europe has announced that Dedeman is scrapping plans to buy AFI 4 and 5
       The Austrians of Strabag are asking for 140 million Euros for the building the Marriott hotel of Bucharest is operating in, according to sources close to the deal.  details
25.07.2017
SPECIALISTS:
     * The BRUA project can no longer be funded, after Hungary announced that it would stop on the Hungarian territory, our sources are saying
       The BRUA pipeline, which was supposed to go through Bulgaria, Romania, Hungary and Austria, will have the same fate as Nabucco, meaning it won't be built, some market specialists think.  details
24.07.2017
CEC BANK CHAIRMAN REACTS TO THE STATEMENTS OF LUCIAN ISAR:
     * (Interview with Mr. Radu Grațian Ghețea, the president of CEC Bank)
     * CEC Bank intends to end this year with a three figure profit
     * CEC Bank chairman: "When the EBA makes moves and finds an easing of interest rates is possible, then that will happen over here as well"
     * Radu Ghețea: "In the case of Romcab, we have begun the foreclosure, we have foreclosed some of the collaterals and we will continue to foreclose on others"
       CEC Bank intends to end this year with a three figure profit, Radu Grațian Ghețea, the chairman of the bank told us in a sizeable interview.  details
22.07.2017
MIRCEA URSACHE, ASF:
     * Ursache: "Romcab is required to file the same reports during its restructuring period as it would during normal operation"
       "Romcab" (MCAB) has the same reporting obligations, during the restructuring period, that it does during its regular operation, said Mircea Ursache, vice-president of the Financial...  details
19.07.2017
MIRCEA URSACHE CONFIRMS:
     * Ursache: "We are asking the market operator to comply with corporate governance"
     * In fact, the investigation targets Lucian Anghel, the president of the BSE, because he is the one that can summon the board
       The Financial Oversight Authority is conducting an analysis of the manner of summoning and unfolding of the Board of Directors of the Bucharest Stock Exchange Mircea Ursache, vice-president of the...  details
17.07.2017
     The Association of Brokers has taken a stand against the exclusion of the BURSA newspaper from the guest list of the official events of the Bucharest Stock Exchange, reported on Friday.  details
14.07.2017
THE WEAKNESS OF THE MANAGEMENT OF THE BSE IN ACTION
     The officials of the Bucharest Stock Exchange avoid explaining why they are excluding BURSA from events.  details
13.07.2017
AFTER FOUR YEARS AT THE HELM OF THE BSE
     * The Board of the Stock Exchange has been waiting for Ludwik Sobolewski's answer for about three weeks now
       Ludwik Sobolewski, who called himself the Alpha Male of the stock market, has received from BSE president Lucian Anghel, an offer for a new term as CEO of the Bucharest Stock Exchange, which...  details
11.07.2017
     The commotion caused by the old news that BURSA published, which were revealed as if they were new, by the Rise Project "investigators", drew attention to the detail, (that we presented...  details
11.07.2017
JOURNALISTS WITHOUT MORAL BOUNDARIES
     The news that PSD president Liviu Dragnea is the shareholder of Tel Drum S.A., which does road infrastructure works and which was awarded all the contracts of the County Council of Teleorman in...  details
08.07.2017
MINISTRY OF PUBLIC FINANCES (MFP):
     * MFP: "CEC Bank has decided to terminate the loan agreements of Romcab, after the company refused to allow the bank access to its raw materials warehouses"
     * MFP: "The decisions to lend the money as well as the allocation of the exposure limits by Romanian insurers and international insurers were done based on the financial statements made available by the company"
       "Romcab", which filed for insolvency in February, had inventories of 493 million lei at the end of 2016, according to the certification report received by EximBank, according to a response...  details
08.07.2017
IN 2012, THE OPENING OF THE BIDS FOR THE PRIVATIZATION OF THE PLANT TOOK PLACE IN THE PRESENCE OF THE PRESS
     * Chimcomplex has announced it has made a bid
     * Sources: "PCC did not participate in the call for bids"
     * Gheorghe Piperea: "We have several offers, both for the five asset packages of Râmnicu Vâlcea, as well as for other packages"
       Whereas in 2012, the privatization of "Oltchim" generated a media blitz, as the opening of the bids occurred with the participation of the press, yesterday, the closing of the call for...  details
05.07.2017
     The Italian Chamber of Deputies recently organized the conference called "Italy's public debt in the Eurozone", which saw experts in the restructuring of public debt, academics,...  details
04.07.2017
     * A new blunder, trademark Toma Petcu: "Energy companies do not have investments in the pension funds "
       While Agriculture Minister Petre Daea causes amusement through his speeches about sheep, Energy Minister Toma Petcu seems to be the champion of blunders.  details
03.07.2017
FINES OF 337,000 LEI, FOR ABUSIVE CLAUSES IN LENDING CONTRACTS
     * Some Non-Banking Financial Companies (NBFCs) have been forced to return to their borrowers the money collected illegally, as well as to freeze their advertising campaigns until their activity complies with the law * The ANPC has also audited Easy Credit, managed by Ianfred Silberstein, consultant with the NBR * Dan Suciu, NBR: "Ianfred Silberstein is no longer on the payroll since 2015, but he can work as a project-based consultant" * Provident fined 40,000 lei
       The non-banking financial institutions have been fined a total of 337,000 lei, following the audit conducted by the National Consumer Protection Agency (ANPC), between May 8th, 2017 - June 16th,...
  details
.