Bucharest Shares Open Flat, SIFs Rise

05.26.2011 By Andrei Cîrchelan

The Bucharest bourse opened Thursday almost flat on the day, but the five regional investment funds, or SIFs, were gaining more than 1% on average.

At around 10:45 am (GMT0745), the Bucharest Stock Exchange's composite index BET-C was flat from Wednesday's closing level, while the main index BET was down a mere 0.05%.

BET-FI, the index tracking the SIFs and investment fund Fondul Proprietatea (FP.RO), was rising 1.23%.

Wider blue-chip tracker BET-XT was up 0.51%, while BET-NG, which tracks energy companies, was gaining 0.3%.

Trades unfolded on the Bucharest Stock Exchange by 10:58 am amounted to 4.8 million lei (EUR1.16 million).

Popular stock early Thursday included Fondul Proprietatea, Oltchim (OLT.RO), SIF Oltenia (SIF5.RO), SIF Transilvania (SIF3.RO) and SIF Muntenia (SIF4.RO). (EUR1=RON4.129)