Bucharest Shares Close Down, SIFs Slump

05.23.2011 By Andrei Circhelan

The Bucharest bourse closed down 1% Monday, following a session-long downward trend encouraged by the blue-chips and SIFs.

The Bucharest Stock Exchange's composite index BET-C fell 1.02% to 3,308.79, while the blue-chip index BET fell 1.6% to 5,534.8.

The declines of both indexes were partly eased by a 1.4% rise of BRD-Groupe Societe Generale (BRD.RO), to 14.4 lei (EUR3.5) which was the only gainer among the BET stocks.

BET-FI, the index tracking investment fund Fondul Proprietatea (FP.RO) and the five SIFs, fell 2.87% on the day, to 22,121.96, mostly brought down by the 4.29% decline of SIF Oltenia (SIF5.

The BET Extended index, or BET-XT, which tracks the top 25 blue-chips, dropped 1.92% to 505.85, while the energy companies tracker, BET-NG, closed at 786.56, down 1.57% on the day.

Trades unfolded Monday on the Bucharest Stock Exchange amounted to RON22.49 million, much higher than RON9.88 million in the previous session.

Fondul Proprietatea, today's top-traded stock, closed down 0.99% on the day, to RON0.5015, on a traded value of RON5.73 million.

Chemical company Oltchim (OLT.RO), the second-top traded issuer, saw its stock jump 14.94% on the day, to RON0.723, on a traded value of RON3.26 million.

Other popular stock Monday included SIF Moldova (SIF2.RO), which declined 1.96% to RON1.25, and OMV Petrom (SNP.RO), which dropped 3.03% on the day, to RON0.4003. (EUR1=RON4.1263)