November 12, 2013 / 6:11 AM / 4 years ago

Romania - Factors to watch on Nov 12

2 Min Read

BUCHAREST, Nov 12 (Reuters) - Here are news stories, press reports and events to watch which may affect Romanian financial markets on Tuesday.

Current Account

Romania's central bank is expected to release September current account data.

Romgaz

Shares in Romanian state-owned gas producer Romgaz begin trading. The firm sold a 15 percent stake in an IPO, raising 1.7 billion lei ($510.04 million).

Inflation

Romania's annual inflation stood at 1.9 percent in October, flat from September and in line with market consensus, data from the National Statistics Board showed on Monday.

Foreign Trade

Romania's trade deficit shrank 42.4 percent on the year to 4.2 billion euros ($5.61 billion) in the first nine months, the National Statistics Board said on Monday.

Debt Tender

Romania sold a planned 600 million lei ($180 million) in five-year treasury bonds due in April 2015, with the average accepted yield at 3.46 percent, compared with 3.48 percent at a previous tender on Oct. 17.

Rosia Montana

A special Romanian parliamentary commission overwhelmingly rejected a draft bill that would allow Canada's Gabriel Resources to set up Europe's biggest open-cast gold mine in the Carpathian mountains.

* Rosia Montana Gold Corporation, owned by Canada's Gabriel Resources, said it hopes Romania's parliament will approve general mining legislation fast, which would enable it to start building the mine next year.

Energy

Romania may postpone deregulating gas tariff for industrial users by a year to December 2015 to counter any market volatility if the difference between domestic and Russian gas prices is too high, the energy ministry said on Monday.

Cee Markets

Emerging European currencies weakened on Monday, as the possibility of an earlier start to the withdrawal of U.S. monetary stimulus put pressure on emerging assets.

Vienna Insurance Group

Austria's Vienna Insurance Group said on Monday it expects volatile 2013 results due to tough markets in Romania and problems at its motor insurance business in Italy.

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