\n\u00centr-o perioad\u0103 \u00een care infla\u0163ia din Rom\u00e2nia dep\u0103\u015fe\u015fte 9%, investitorii caut\u0103 active care s\u0103 le protejeze randamentele reale. Ovidiu \u015eerdean, broker la IFB Finwest, subliniaz\u0103 c\u0103 firmele capabile s\u0103 transfere rapid cre\u015fterile de costuri c\u0103tre consumatori \u2013 \u00een sectoare precum energie, utilit\u0103\u0163i, infrastructur\u0103 sau bunuri de prim\u0103 necesitate \u2013 ofer\u0103 o protec\u0163ie mai solid\u0103 a randamentelor \u015fi stabilitate pe termen lung. \u00cen aceast\u0103 cheie, oferta actual\u0103 de la Bursa de Valori Bucure\u015fti include mai multe astfel de companii, care au \u00eenregistrat randamente semnificativ peste evolu\u0163ia general\u0103 a pre\u0163urilor \u00een 2025.<\/p>\n
\n\u201eDac\u0103 \u00een zona euro avem o infla\u0163ie de circa 2% \u015fi \u00een Statele Unite 2,9%, \u00een Rom\u00e2nia suntem la 9,9%. Privind politica monetar\u0103, \u00een zona euro suntem la 2,15%, Fed-ul este la 4,25%; \u00een SUA abia am asistat la o reducere a dob\u00e2nzii, de\u015fi era solicitat\u0103 de mult de administra\u0163ia preziden\u0163ial\u0103. \u00cen Rom\u00e2nia este 6,5% dob\u00e2nda de referin\u0163\u0103\u201d, spune brokerul.<\/p>\n
\n\u00cen paralel, salariile rom\u00e2nilor nu reu\u015fesc s\u0103 \u0163in\u0103 pasul cu infla\u0163ia: \u00een iulie 2025, salariul mediu net a ajuns la 5.517 lei, ceea ce marcheaz\u0103 prima sc\u0103dere a c\u00e2\u015ftigului salarial real \u00een ultimele 12 luni. Angajatorii r\u0103m\u00e2n precau\u0163i, concentr\u00e2ndu-se pe men\u0163inerea locurilor de munc\u0103, iar major\u0103rile salariale nu acoper\u0103 cre\u015fterea pre\u0163urilor. Aceast\u0103 pierdere a puterii de cump\u0103rare subliniaz\u0103 \u015fi mai mult importan\u0163a investi\u0163iilor \u00een companii capabile s\u0103 transfere rapid costurile c\u0103tre consumatori, protej\u00e2nd astfel randamentele reale.<\/p>\n
\n\u201ePrivind sectoarele care ar trebui urm\u0103rite \u00een perioade de infla\u0163ie ridicat\u0103, ar trebui s\u0103 ne g\u00e2ndim companiile care transfer\u0103 rapid cre\u015fterea costurilor c\u0103tre consumatori. Trebuie s\u0103 ne uit\u0103m la firme care beneficiaz\u0103 de cre\u015fterea valorii \u00een termeni nominali, de exemplu energie, imobiliare, infrastructur\u0103\u201d, continu\u0103 Ovidiu \u015eerdean.<\/p>\n
\nDatele INS arat\u0103 c\u0103 infla\u0163ia a urcat \u00een august la 9,9%, fa\u0163\u0103 de 7,8% \u00een iulie, iar pre\u0163urile de consum au crescut \u00een medie cu 2,1% lunar, influen\u0163ate de majorarea TVA \u015fi eliminarea plafon\u0103rii la energie. Alimentele, serviciile \u015fi bunurile nealimentare s-au scumpit semnificativ, \u00een timp ce ritmul de cre\u015ftere al consumului a \u00eencetinit, semnal\u00e2nd o temperare a cererii interne.<\/p>\n
\n\u201eAr trebui s\u0103 ne uit\u0103m la companii care beneficiaz\u0103 de venituri indexate sau reglementate – aici avem utilit\u0103\u0163ile. S\u0103 ne uit\u0103m \u015fi la companii ale c\u0103ror produse sunt de necesitate, cum ar fi alimente, medicamente. Printre societ\u0103\u0163ile pe care le avem la burs\u0103 g\u0103sim Petrom, Romgaz, iar dac\u0103 vorbim de financiare, avem Banca Transilvania \u015fi BRD.\u201d<\/p>\n
\nLa capitolul \u201eutilit\u0103\u0163i\u201d se \u00eencadreaz\u0103 operatorul sistemului na\u0163ional de transport de gaze naturale Transgaz (TGN) \u015fi Transelectrica (TEL), operator de transport al energiei electrice, tot companie de stat. Primul emitent \u00eenregistreaz\u0103 de departe cea mai bun\u0103 evolu\u0163ie din structura indicelui BET din 2025, 142%, \u00een timp ce ac\u0163iunile celui de-al doilea s-au apreciat cu 68%.<\/p>\n
\n\u00cen sectorul alimentar reg\u0103sim produc\u0103torul de vinuri Purcari (WINE), iar \u00een domeniul s\u0103n\u0103t\u0103\u0163ii \u015fi al farmaceuticelor se remarc\u0103 Antibiotice Ia\u015fi (ATB) \u015fi MedLife (M), care \u00eenregistreaz\u0103 o cre\u015ftere de peste 40% a pre\u0163ului ac\u0163iunii de la \u00eenceputul anului.<\/p>\n
\n\u201eDac\u0103 ne g\u00e2ndim la sectoarele de care ar trebui s\u0103 ne ferim, ne uit\u0103m la produc\u0103torii de bunuri premium. \u00cen perioade cu infla\u0163ie ridicat\u0103, cererea pentru acest tip de produse este sc\u0103zut\u0103. Ar trebui s\u0103 ne g\u00e2ndim \u015fi la tehnologie, sector care se afl\u0103 \u00een faza de cre\u015ftere \u015fi este foarte dependent de dob\u00e2nzi sc\u0103zute\u201d, mai spune brokerul.<\/p>\n
\nDe altfel, cele mai multe companii de tehnologie listate la Bursa local\u0103 afi\u015feaz\u0103 deprecieri ale cota\u0163iilor anul acesta, investitorii prefer\u00e2nd, \u00een schimb, sectoare mai sigure \u015fi cu venituri mai stabile pe timp de infla\u0163ie ridicat\u0103, reiese dintr-o analiz\u0103 recent realizat\u0103 de ZF<\/a>.<\/p>\n \n <\/p>\n","protected":false},"excerpt":{"rendered":" \u00centr-o perioad\u0103 \u00een care infla\u0163ia din Rom\u00e2nia dep\u0103\u015fe\u015fte 9%, investitorii caut\u0103 active care s\u0103 le protejeze randamentele reale. Ovidiu \u015eerdean, broker la IFB Finwest, subliniaz\u0103 c\u0103 firmele capabile s\u0103 transfere rapid cre\u015fterile de costuri c\u0103tre consumatori \u2013 \u00een sectoare precum energie, utilit\u0103\u0163i, infrastructur\u0103 sau bunuri de prim\u0103 necesitate \u2013 ofer\u0103 o protec\u0163ie mai solid\u0103 a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[8110,306,10409,148,201,5238,7283,246,7458,150,184,22346,293,149,340,8351,98,32813],"class_list":["post-240875","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-broker","tag-bucuresti","tag-bunuri","tag-bvb","tag-companii","tag-consumatori","tag-costuri","tag-crestere","tag-dobanda","tag-energie","tag-inflatie","tag-inregistrare","tag-intrare","tag-investitii","tag-preturi","tag-randamente","tag-romania","tag-transferare"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/240875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=240875"}],"version-history":[{"count":0,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/240875\/revisions"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=240875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=240875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=240875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}