Bucharest Shares Close Down, Investors Jump On Fondul Proprietatea

04.29.2011 By Andrei Circhelan

The Bucharest bourse closed down Friday, on high traded values, following investment fund Fondul Proprietatea's (FP.RO) return to the floor after a two-day suspension for the annual shareholder meeting.

The Bucharest bourse closed down Friday, on high traded values, following investment fund Fondul Proprietatea's (FP.RO) return to the floor after a two-day suspension for the annual shareholder meeting.

The Bucharest Stock Exchange's composite index BET-C dropped 0.84% on the day, to 3,528.33, while the 10-share blue-chip tracker BET fell 0.95%, to 5,921.53.

BET-FI, the index tracking the Proprietatea fund and the five regional investment funds, or SIFs, declined 1.03%, to 25,565.82.

The BET-XT index, which tracks the top-25 blue-chip shares, including the SIFs, dropped 0.73% on the day, to 551.6, while energy companies tracker BET-NG closed at 838.97, down 0.31% on the day.

Trades unfolded Friday on the Bucharest Stock Exchange amounted to 53.81 million lei (EUR13.2 million) with the Proprietatea fund subject to main market trades worth a total RON41.07 million and deal market trades worth a total RON3.39 million. The fund's shares dropped 3.2% on the day, to RON0.5605.

Lender BRD-Groupe Societe Generale (BRD.RO) was a distant second in today's top-traded chart. Its shares dipped 0.66%, to RON15, on a traded value of RON2.72 million.

Other popular stock Friday included SIF Banat-Crisana (SIF1.RO), up 0.96% to RON1.257, oil company OMV Petrom (SNP.RO), flat at RON0.44, and chemical company Azomures (AZO.RO), down 1.94% to RON0.706. (EUR1=RON4.0744)