SEE stock ex­changes gain mo­men­tum in 2012, as re­gional hubs stand out

Top 100 See - - See Listed Companies - By Gabriela Tzekova

The stock mar­kets in SEE closed 2012 on a pos­i­tive note as the ma­jor­ity of the TOP 100 pub­lic com­pa­nies saw their mar­ket value in­crease and the blue-chip in­dices re­versed their down­ward trend. De­spite the up­turn, the in­dices failed to erase the losses ac­cu­mu­lated in 2011. Mean­while, the over­all growth in the com­bined cap­i­tal­i­sa­tion in SEE was mostly prompted by the good per­for­mance of the three lead­ing stock mar­kets in the re­gion: Za­greb, Bucharest and Ljubl­jana. Ro­ma­nian and Croa­t­ian com­pa­nies as­serted their dom­i­nance at the lead of SEE pub­licly traded com­pa­nies, the 2012 rank­ing by mar­ket cap showed. Slove­nia, Mace­do­nia and Ser­bia each had a rep­re­sen­ta­tive in the top 10 of mar­ket value heavy­weights, mak­ing the list more mixed. A year ear­lier only one Slove­nian and one Bul­gar­ian com­pany made it to the big league.

Last year was par­tic­u­larly strong for oil and gas firms on the bourse. Ro­ma­nia’s OMV Petrom topped the rank­ing with mar­ket cap­i­tal­i­sa­tion of 5.48 bil­lion euro. The oil and gas group earned two spots, after clos­ing 2011 with 3.8 bil­lion euro. In­vestors were re­as­sured by its im­prov­ing fi­nan­cial re­sults. "After

Ro­ma­nian and Croa­t­ian com­pa­nies as­serted their dom­i­nance at the lead of SEE pub­licly traded com­pa­nies, the 2012 rank­ing by mar­ket cap showed

a re­cent pe­riod of volatile crude prices and macroe­co­nomic uncertainty, 2012 was a year of rel­a­tive sta­bil­ity, with strong op­er­a­tional and fi­nan­cial per­for­mance for Petrom," CEO Mar­i­ana Ghe­o­rghe com­mented on the an­nual fig­ures.

Due to a change in the method­ol­ogy of the rank­ing, the 2011 leader, Vi­enna-based Erste Group Bank, listed in Bucharest, dropped out of the 2012 snap­shot.

INA-In­dus­trija Nafte, the Croa­t­ian re­finer con­trolled by Hun­gary’s MOL, ce­mented its run­ner-up po­si­tion with a mar­ket value of 5.2 bil­lion euro, up 3.0% on the year. While its bourse po­si­tions re­mained strong, INA’s fi­nan­cial re­sults suf­fered as the com­pany halted its gas and oil busi­ness in Syria to com­ply with EU pol­icy on the po­lit­i­cally un­sta­ble

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