May 8, 2017 / 5:46 AM / 2 months ago

Romania - Factors to watch on May 8

3 Min Read

BUCHAREST, May 8 (Reuters) - Here are news stories, press reports and events to watch which may affect Romanian financial markets on Monday.

Debt Tender

Romanian debt managers tender 500 million lei ($120.93 million) worth of March 2022 treasury bonds.

Interest Rates

Romania's central bank kept its benchmark interest rate unchanged at a record low 1.75 percent as expected on Friday, weighing low inflation against wage hike pressures.

Convergence

Romania's Social Democrat said in a convergence report approved on Friday that state companies will continue to distribute at least 90 percent of their profits to the state budget as dividends in 2018 as well. Coupled with VAT payment changes and a plan to cut public administration's operating expenses by as much as 10 percent, the measure will keep the budget deficit within the EU's 3 percent limit.

Petrom

Romania's oil and gas company OMV Petrom, controlled by Austria's OMV, is seen reporting a first-quarter net profit of about 680 million lei ($164.42 million), mainly because of higher oil prices.

Cee Markets

Hungarian oil group MOL's stronger-than-expected earnings boosted its stocks to a six-year high on Friday, while its sector peers in Central Europe retreated after a plunge in crude prices.

Protest

An estimated 700 people held an anti-corruption protest in rainy capital Bucharest on Sunday ahead of a Senate vote on a bill that grants prison pardons for a number of offenses. Last week, senators backed away from including corruption sentences of the list of pardonable offenses after a similar protest.

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