Top stock market gains in the first semester: Transelectrica, Transgaz, Purcari; Capital market – performance above expectations

The local capital market recorded a performance above expectations in the first half of the year, according to a six-month progress report, prepared by Prime Transaction.

The main indices recorded increases between 10–12%, while the dividend-adjusted indices (total return type) advanced by 15–17%, setting new historical highs.

The performers of the semester were Transelectrica (+51.19%), Transgaz (+50.93%) and Purcari (+40.3%).

This positive development is all the more remarkable, as it occurred in the context of a political and economic environment characterized by high uncertainty, significant budget deficits and the lack of committed political leaders in the first part of the year, the quoted analysts show: “It should be noted, however, that the market had entered negative territory before the second round of the parliamentary elections. Practically, the entire recovery and subsequent positive dynamics were due to an electoral result perceived favorably by investors, which induced a revival of confidence in the country's economic and institutional prospects.

The first half of 2025 will go down in history as one of the most uncertain political periods Romania has experienced in the last three decades. This instability and lack of institutional clarity have left their mark on stock market developments, generating volatility and the postponement of investment decisions. Subsequently, as uncertainty eased, after the presidential elections, the market returned to an upward trend, managing to recover from the gap recorded with European markets. The approximately 15% increase in the local stock market reflects a still high level of investor confidence in the Romanian economy. This appreciation occurred despite some obvious macroeconomic imbalances, which are still expanding, such as the budget and trade deficits. There is, however, hope that these structural problems will be addressed, at least partially, under pressure from rating agencies – which essentially represent the interests of international financiers – and from the need to access European funds, vital for supporting public investments and balancing the national budget.”

According to Prime Transaction, the performance of companies is strictly related to the evolution of the trading price, not taking into account the dividends granted, therefore the price corrections from the ex-dividend data. 21 companies increased, while 9 decreased. The average stock market performance was 11,96%, while the median was slightly lower, at 11,27%. The variation range of the issuers in BET-BK fluctuated between a decrease of 22.5% in the case of AROBS and an increase of over 51% in the case of Transelectrica.

Prime Transaction concludes: “In the first half of this year, we recorded a positive semester, which leaves intact hopes that 2025 will be a positive year for the stock market. As the last six weeks have shown us, once again, the stock market continues to offer the best investment options for retail, unsophisticated investors”

Source: https://financialintelligence.ro/