Bucharest Shares Close Down, Despite Optimistic Start

05.17.2011 By Andrei Circhelan

The Bucharest bourse closed Tuesday on a declining trend, despite an optimistic start of the session, due to decreases in most of the blue-chips.

The Bucharest Stock Exchange's composite index BET-C fell 0.94% on the day, to 3,353.29, while the main index BET dropped 0.68% on the day, at 5,648.53.

BET-FI, the index tracking investment fund Fondul Proprietatea (FP.RO) and the five regional investment funds, or SIFs, closed at 22,791.05, down 0.49% on the day.

The 25-share blue-chip tracker, BET-XT, fell 0.54% to 515.5, while energy companies index BET-NG dropped 1.68% to 786.65.

The 0.73% day-on-day decrease, to 0.407 lei (EUR0.099), of OMV Petrom (SNP.

RO) shares, corroborated with declines of Proprietatea and BRD-Groupe Societe Generale (BRD.RO), dragged down the major indexes.

Proprietatea stock dropped 1.04% on the day, to RON0.5305, while BRD closed down 0.89% on the day to RON14.63 a share.

Trades unfolded Tuesday on the Bucharest Stock Exchange amounted to RON24.88 million, with RON2.04 million coming from one deal market trade in stoves and pots maker VES Sighisoara (VESY.RO). Monday's overall traded value stood at RON24.2 million.

The Proprietatea fund was today's top-traded issuer, after being the subject of transactions worth a total RON5.92 million.

Banca Transilvania (TLV.RO) was a close second in the top-traded issuers chart. Its shares closed up 0.27%, to RON1.494, on a traded value of RON5.25 million.

Other popular stock included SIF Transilvania (SIF3.RO), which dropped 0.82% to RON0.5455, and Transgaz (TGN.RO), which fell 0.8% on the day, to RON254.95. (EUR1=RON4.1051)