Romania’s benchmark BET index, which tracks the major stocks traded on the Bucharest Stock Exchange (BVB), has risen roughly 74% over the past year. Its success is partly explained by its composition, as nearly two-thirds of the index is represented by companies in the energy and utility sectors, according to an analysis by Romanian stock brokerage firm Investimental. Traditionally considered defensive holdings, highlighting their ability to weather geopolitical crises and other events, listed energy and utilities companies benefited from overlapping geopolitical crises, the prospect of rising global electricity consumption driven by the growth of AI, and Romania’s status as an emerging market.