Bucharest Shares End Slightly Down, SIFs Buoy

05.19.2011 By Andrei Circhelan

The Bucharest bourse closed Thursday slightly down, on higher traded values, while the five regional investment funds offset a decline larger than 2% of Fondul Proprietatea (FP.RO) shares to keep BET-FI in green territory.

The Bucharest Stock Exchange's composite index BET-C inched down 0.06% on the day, to 3,340.35, while the 10-share blue-chip tracker BET fell 0.19% to 5,621.82.

Most indexes were held back or dragged down by the 2.31% decline seen by investment fun Fondul Proprietatea (FP.RO), whose stock ended at 0.507 lei (EUR0.123), close to its all-time low.

However, BET-FI, which tracks the SIFs and the Proprietatea fund, rose 0.17% on the day, to 22,745.74, as all SIFs closed in the green.

The BET Extended index, or BET-XT, which tracks the top 25 most-traded stock, rose 0.21% to 515.59, while the energy companies tracker, BET-NG, closed at 795.87, up 0.63% on the day.

Trades unfolded Thursday on the Bucharest Stock Exchange amounted to RON36.85 million, compared to RON22.23 million in the previous session. Some RON7.2 million in today's overall traded value came from four deal market trades, namely three in the Proprietatea fund and one in realty developer Impact Developer&Contractor (IMP.RO).

The Proprietatea fund ranked first today among the top-traded issuers, since it was the subject of transactions worth a total RON18.63 million.

Stoves and pots maker VES Sighisoara was a distant second in today's top-traded issuers chart. Its stock dove 14.82% on the day, to RON0.0776, following transactions worth a total RON1.74 million.

Impact Developer&Contractor shares jumped 15% on the day, the maximum growth allowed under bourse bylaws, to RON0.4141, while the shares of chemical plan Oltchim (OLT.RO) rose 5.08% on the day, to RON0.6305.

Other popular stock Thursday included Banca Transilvania (TLV.RO), which inched down 0.16% to RON1.23 and BRD-Groupe Societe Generale (BRD.RO), which rose 0.34% to RON14.57. (EUR1=RON4.1254)