Bucharest Shares Close Down, Eyes Turn To BRD

05.03.2011 By Andrei Circhelan

The Bucharest bourse closed down Tuesday, while the overall traded value remained low and investors focused on investment fund Fondul Proprietatea (FP.RO) and lender BRD-Groupe Societe Generale (BRD.RO).

The Bucharest Stock Exchange's composite index BET-C fell 1.7% to 3,422.04, while the 10-share blue-chip tracker BET closed at 5,762.64, down 1.9% on the day.

BET-FI, the index tracking the Proprietatea fund and the five regional investment funds, or SIFs, declined 1.26% on the day, to 25,026.73.

The extended blue-chip index BET-XT dropped 1.69% on the day, to 538.37, while energy companies tracker BET-NG fell 2.07% to 799.16.

Trades unfolded Tuesday on the Bucharest Stock Exchange amounted to 47.35 million lei (some EUR11.5 million), with RON1.8 million coming from two deal market trades in the Proprietatea fund and BRD.

The overall traded value registered Monday amounted to RON51.66 million.

The Proprietatea fund was today's top-traded issuer. Its shares closed down 1.47%, to an all-time low of RON0.538, on a traded value of RON16.79 million.

BRD was the second-top traded issuer, after it announced its first-quarter net profit fell 38.7% on the year to RON122 million. Its shares fell 2% on the day, to RON14.7, on a traded value of RON7.14 million.

Other popular stock Tuesday included SIF Oltenia (SIF5.RO), down 1.95% to RON1.51, oil company OMV Petrom (SNP.RO), which was down 2.01% to RON0.4284 and lender Banca Transilvania (TLV.RO), whose shares closed down 2.24% on the day, to RON1.525.