Friday, August 5, 2011

Romania stocks hit 1-year low on global risk aversion

Aug 5 (Reuters) - Romania's blue chip stock index fell as much as 6.2 percent on the day in early trade on Friday, leading losses in emerging Europe as investors dumped risky assets and world stock markets fell for the eighth straight session.

By 0710 GMT, the Romanian index was down 6.2 percent, hitting its lowest in just over a year, when the government's fiscal deficit and harsh austerity measures hammered Romanian assets. The index has since narrowed losses slightly, trading almost 5 percent down on the day at 4873.15. (Reporting by Luiza Ilie; Editing by Sam Cage)

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