Independent research & insights on Romanian equities
Your local analyst on the Bucharest Stock Exchange: company research, financials and the flows of local institutional investors, from analysts with 10+ years of institutional coverage of BET companies.
Why Romania, why now
A market that is moving up the index ladder, still under-covered by international research.
Emerging market status
Upgraded by FTSE Russell to Secondary Emerging in 2020, with continued work on market access and liquidity.
Large-cap listings
Hidroelectrica's 2023 listing was Europe's largest IPO that year, and state-owned as well as private companies remain a source of new supply.
Dividend-rich market
Many large BVB companies, particularly state-owned energy and utilities, distribute a large share of their earnings as dividends.
Strong local demand
Romanian Pillar II pension funds, mutual funds and ETFs keep growing and are among the largest holders of BVB equities.
What you get
Five tools built around how institutional investors cover a market.
Local institutional flows
Monthly holdings and trades of Romanian pension funds (Pillar II & III) and local mutual funds in BVB stocks: the positioning of the market's largest local buyers.
Company research & earnings notes
Earnings notes, investment theses, catalysts and multiples-based valuation on BVB companies.
Browse researchStandardized financials & KPIs
Comparable quarterly and annual financial statements, ratios and dividend history, with interactive charts.
Explore companiesCorporate & macro calendar
Earnings dates, ex-dividend dates, AGMs, central bank (NBR) and statistics office (INS) releases.
Open the calendarRomania equity briefing
What happened on the BVB, why it matters and what to watch next, in a short regular briefing.
SubscribeSee the quality before we talk
Download a recent earnings note in English. It is the fastest way to judge whether our research fits your process.
Irina Railean, CFA
[[Short bio, 3–4 sentences: previous roles (institution and years), sectors and companies covered, notable work.]]
On-demand services
For when a platform is not enough.
Analyst access
Questions on a company, a sector or a set of results, answered by the analyst who covers it.
Corporate access
Meetings and Q&A sessions with the management of BVB-listed companies.
Bespoke research
Tailored work on a company, sector or theme, scoped to your process.
Institutional access
Team licenses and invoiced subscriptions for funds, brokers and family offices. Pricing on request.
Book a callFrequently asked questions
Is the research independent?
[[Confirm: Mosaiq8 does not do investment banking and is not paid by the companies it covers.]]
Is everything available in English?
We are rolling out English across the platform. Key earnings notes are published in English; other research is available with AI-assisted translation, clearly marked as such.
Where does the data come from?
Company financial reports, BVB disclosures and the public reports of Romanian pension and mutual funds, standardized by Mosaiq8.
How often is the data updated?
Financials after each quarterly release, fund flows monthly as the funds publish their reports, and the calendar continuously.
Can we pay for the research under MiFID II?
[[Confirm: access is sold as a paid subscription with an invoice, so it can be accounted for as research under MiFID II.]]
Mosaiq8 research is provided for information purposes only and does not constitute investment advice or an offer to buy or sell any security.