WOOD Flash – Romania: latest political developments and implications
Following our trip to Romania last week, and meetings with companies and local experts, we have made a few notes, with a focus on the development of the political situation and its implications for the listed companies. The political scene remains full of tension, after the conviction of Social Democrat leader Liviu Dragnea and the decision of the Constitutional Court that the president must remove the head of the anti-corruption office. Still, the fight is likely to remain political (with the chance of snap elections very low, in our view), while the incremental effect of the fiscal stimulus is fading away on the economic side and, against the background of a weakening European business cycle, causing the economic growth to moderate to around 3%, still slightly above the potential long-term, normal output, in our view.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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