Persons inside the companies floated at the regulated market of Bucharest Stock Exchange conducted purchases worth 15 million lei in October. On top of insiders’ favorite were FIC5 – Oltenia and BRD Societe Generale shares.

If we take a glance back in history, October was most of the times one of the worst months for the equity market, said Gabriel Necula, deputy operation director at Prime Transaction, however the situation is not constant each year.

Insiders started to make acquisitions even since this year’s spring-summer, and as prices started to fall, they orientated into amassing stocks and significant stakes. Apart from FIC1, insiders at financial investment companies were net buyers in October.

The most traded financial investment company was FIC5 with 4.82 million lei (1.32 million euros).

Biggest purchases were carried by Oltenia Leasing, financial banking institution administrated by FIC5. Managing director of the company Tudor Ciurezu was one of the 13 initiated persons who acquired FIC 5 shares.

Ciurezu also purchased shares in Biofarm and Altur Slatina for 22,000 euros.

At FIC2 – Moldova, biggest acquisitions were conducted by tourism company Saga, worth 15,000 euros and Altur Slatina with 51,500 euros.

“We must take into consideration that large acquisitions carried out by insiders in the last month on FIC2 and FIC5 took place in the context of major declines of quotations. Practically, BET-FI index slumped 56.45% in October, and in these conditions, many investors considered purchasing shares as a profit-making opportunity”, said Gabriel Aldea, head of Front Office department at Intercapital Invest.

The broker says the acquisitions of insiders are not a pledge for a good evolution in the forthcoming period. “Another example may be FIC3, where insiders went on buyout spree after the free shares were rele