Bucharest Shares Close Down, Despite Last-Ditch Thrust For The Green

05.12.2011 By Andrei Circhelan

The Bucharest bourse closed Thursday slightly in the red, after staying deep in negative territory for most of the session, with investment fund Fondul Proprietatea (FP.RO) stocks recovering towards the end.

The Bucharest Stock Exchange's composite index BET-C closed down 0.52% on the day, to 3,354.95, while the 10-share blue-chip index BET fell 0.33% to 5,648.81.

Ex-dividend behavior and quarterly result anticipation by investors caused fluctuant evolution from one issuer to the next, with drug maker Zentiva (SCD.RO) falling 14.94% to 1.59 lei (EUR0.39) and chemical company Oltchim (OLT.RO) rising 12.86% to RON0.47.

The BET-FI index, which tracks the five regional investment funds, or SIFs, and the Proprietatea fund, fell sharply by 3.7% on the day, to 23,484.23, as SIF Banat-Crisana (SIF1.

Wider blue-chip index BET-XT closed decreased by 1.27%, to 521.39, while the energy companies index, BET-NG, closed at 777.94, down 0.89% on the day.

Trades unfolded Thursday on the Bucharest Stock Exchange amounted to RON67.28 million, with RON33.62 million coming from transactions with Proprietatea stock, which closed down 1.87% at RON0.525, aftre falling as much as 6.5% in early session. Another RON2.73 million in today's overall traded value came from one deal market trade with Oltchim stock.

SIF Muntenia (SIF4.RO) was the second-top traded issuer today. Its shares closed down 2.98% to RON0.815, on a traded value of RON6.57 million.

Other popular stocks Thursday included Banca Transilvania (TLV.RO), up 0.2% to RON1.503, oil company OMV Petrom (SNP.RO), up 1.72% to RON0.4135, and BRD-Groupe Societe Generale (BRD.RO), which ended flat at RON14.6. (EUR1=RON4.0997)