Bucharest Shares Close Down, VES Stock Jumps

05.16.2011 By Andrei Circhelan

The Bucharest bourse closed Monday in the red, as investors continued to show little interest in trading and focused mainly on investment fund Fondul Proprietatea (FP.RO) and lender Banca Transilvania (TLV.RO).

However, an unlikely attention-grabber, stoves and pots maker VES Sighisoara (VESY.RO) saw its shares rising 15%, the maximum permitted for a day, and made it into the top-five most-traded stocks of the session.

VES closed at RON0.069, in a session in which around 15% of the company's shares changed hands, for a total traded value of RON1.22 million.

The Bucharest Stock Exchange's composite index BET-C fell 0.38% on the day, to 3,385, while blue-chip index BET dropped 0.57% to 5,686.98.

BET-FI, the index tracking the Proprietatea fund and the five regional investment funds, or SIFs, fell even more, closing down 1.9% on the day, at 22,902.55.

The BET Extended index, or BET-XT, which tracks the top 25 blue-chips, dropped 1.11% to 518.32, while the energy companies index BET-NG was the only one with an increase, of 0.99%, to 800.12.

Trades unfolded Monday on the Bucharest Stock Exchange amounted to 24.2 million lei (EUR5.9 million), close to RON26.82 million at closing in the previous session.

The Proprietatea fund was today's top-traded issuer. Its stock closed down 0.66%, to RON0.5305, on a traded value of RON7.28 million.

Banca Transilvania shares dropped 1.91% on the day, to RON1.49, on a traded value of RON6.73 million.

SIF Transilvania (SIF3.RO) stock fell 1.7% to RON0.55, while SIF Oltenia (SIF5.RO) decreased 2.18% to RON1.39 a share. (EUR1=RON4.1054)