Romanian Stocks Rise Most Since 2010, Ending Six-Day Slump
Romanian Stocks Rise Most Since 2011, Ending Six-Day Losing Run
(Bloomberg) -- The Bucharest stock exchange’s main gauge advanced the most in more than eight years, ending its longest losing streak since May.
The BET Index jumped as much as 7.7 percent, the biggest gain in the world on Monday, as all but two of the gauge’s 15 members rose. The rally came after the index suffered its worst week since 2008.
Investors last week sold off after the government surprised with a new tax package, Measures including levying banks, energy and telecommunications companies, as well as overhauling the pension system sparked the biggest market crash since the global financial crisis.
Read More: Romania Green Lights ‘Greed’ Tax on Banks That Crashed Markets
To contact the reporters on this story: Dana El Baltaji in Dubai at delbaltaji@bloomberg.net;Adrian Krajewski in Warsaw at akrajewski4@bloomberg.net
To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net
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