BETI: A Move To 4,350 Expected

July 2008 | Market Strategy

Romania's benchmark equity index, the BETI, has broken through our short-term downside target of 5,600, at one point trading as low as 5,362 on July 16. Going forward, we see little to like about the index, which has registered losses of 44.9% ytd, and believe that further downside lies ahead, with 4,350 set as our short-term target.

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