Bucharest Shares Close Up, Proprietatea Back In Red

05.27.2011 By Andrei Cîrchelan

The Bucharest bourse closed up Friday, with investment fund Fondul Proprietatea (FP.RO) returning to decline after yesterday's rebound, while Oltchim (OLT.RO) continued its rally.

However, Oltchim lost part of its 15% gain in the ealry session, and ended up 8.1% on the day, at 1.145 lei (EUR0.28) a share. The other chemical companies listed in Bucharest also soared in Friday's trading, with Amonil (AMO.RO) gaining the maximum-admitted 15% to RON0.0161, and Azomures (AZO.RO) ending up 12.8%, at RON0.7895 a share.

Proprietatea fund was once again dominating the trades, accounting for more than half of the bourse's total turnover. Its shares fell 0.5% to RON0.4879, on a traded value of RON18.7 million.

Also, two deal market trades with the fund's shares added other RON3.7 million to the overall turnover, of RON38.8 million.

All the Bucharest Stock Exchange's indexes ended in green territory, with the composite index BET-C up 0.68% on the day, at 3,282.94, and the blue-chip index BET 0.87% higher to 5,485.95.

BET-FI, the index tracking the five regional investment funds, or SIFs, and the Proprietatea fund, rose 0.68% on the day, to 22,455.32. The extended blue-chip index BET-XT rose 1.05% to 508.48, while the energy index BET-NG grew 1.07% to 793.91.

Other stocks popular Friday included Transelectrica (TEL.RO), which rose 2.95%, SIF Oltenia (SIF5.RO), which rose 1.23% and OMV Petrom (SNP.RO), which climbed 1.01%. (EUR1=RON4.1315)