Bucharest Bourse Close Up For The First Time This Week

04.20.2011 By Andrei Circhelan

The Bucharest bourse closed Wednesday well above par, with all indexes gaining more than 1%, on average trading values.

The Bucharest bourse closed Wednesday well above par, with all indexes gaining more than 1%, on average trading values.

The Bucharest Stock Exchange's composite index BET-C rose 1.19% on the day, to 3,534.98, while the 10-share blue-chip tracker BET gained 1.1%, to 5,941.48.

Both indexes were positively influenced by their heaviest issuers, OMV Petrom (SNP.RO) - up 1.65% and BRD-Groupe Societe Generale (BRD.RO) - up 1.01%. However, the evolution also reflected the 9.68% jump of cargo handler Socep (SOCP.

BET-FI, the index tracking investment fund Fondul Proprietatea (FP.RO) and the five regional investment funds, or SIFs, rose 2.31% on the day, to 25,876.4. The SIFs rose 3% on average, but Proprietatea shares were up just 0.6%.

Wider blue-chip tracker BET-XT, which also includes the SIFs, increase 1.6% on the day, while the energy companies index, BET-NG, closed at 832.11, up 1.39% on the day.

Trades unfolded Wednesday on the Bucharest Stock Exchange amounted to 39.63 million lei (EUR1=RON4.0858), with RON4.9 million coming from a total three deal market trades with Proprietatea and BRD stock. Trades unfolded Tuesday on the Bucharest Stock Exchange amounted to RON41.14 million.

In addition, the Bucharest bourse's Rasdaq market hosted a transaction where a 49.12% stake in Bucharest hotel Intercontinental (RCHI.RO) was sold for RON51.14 million.

The Proprietatea fund contributed RON15.39 million to the overall traded value today, which makes it the top-traded issuer. Its stock rose 0.61% on the day, to RON0.5785.

The shares of SIF Oltenia (SIF5.RO), a distant second in the top-traded chart, rose 3.35% on the day, to RON1.575, following transactions worth RON3.25 million.

Other popular issuers Wednesday included Banca Transilvania (TLV.RO), up 0.98% to RON1.55, state-owned gas transporter Transgaz (TGN.RO), up 0.72% to RON266, and Bucharest bourse operator BVB (BVB.RO), up 1.2% to RON42.