Bucharest Shares Close Down, Oltchim Jumps 15%

05.11.2011 By Andrei Circhelan

Bucharest-traded shares closed Wednesday clearly in the red, after pursuing a downward pattern throughout the session, as investors focused mainly on the usual liquidity drivers, especially Fondul Proprietatea (FP.RO).

The Bucharest Stock Exchange's composite index BET-C fell 0.96% on the day, to 3,372.45, while the 10-share blue-chip tracker BET closed at 5,667.36, down 1.17% on the day.

BET-FI, the index tracking the five regional investment funds, or SIFs, and the Proprietatea fund, closed down 2.04% on the day, to 24,385.4. The fall was mainly spurred by the 3.15% day-on-day decline of SIF Banat-Crisana (SIF1.RO) stock, while SIF Muntenia (SIF4.RO) shares fell 2.21% on the day.

BET-XT, the index tracking the top 25 blue-chips, dropped 1.27% to 528.08.

The BET-XT tracker's downward evolution was slowed by chemical company Oltchim (OLT.RO) stock, which jumped 15% on the day, the maximum growth allowed, and car parts maker Compa (CMP.RO), whose shares rose 9.09% on the day.

Trades unfolded Wednesday on the Bucharest Stock Exchange amounted to 47.11 million lei (EUR11.5 million), with RON19.5 million coming from trades in the Proprietatea fund. Yesterday's overall traded value reached RON25.66 million.

The Proprietatea fund was the top-traded issuer. Its stock dropped 1.83% on the day, to RON0.535, a new all-time low.

SIF Oltenia (SIF5.RO) was the second-top traded issuer. Its shares closed down 1.68% on the day, to RON1.465, on a traded value of RON5.08 million.

Other popular stock Wednesday included lender Banca Transilvania (TLV.RO), down 0.33% to RON1.5, lender BRD-Groupe Societe Generale (BRD.RO), flat at RON14.6, and oil company OMV Petrom (SNP.RO), down 2.17% to RON0.4065. (EUR1=RON4.084)