Bucharest Stocks Close Down, Fondul Proprietatea Again Lifts Traded Value

11.08.2013 By Bogdan Neagu

The Bucharest stock market closed down Friday, on reduced interest, but the traded values were pushed by special deals with Fondul Proprietatea (FP.RO) shares.

The BET index closed down 39.37 points, or 0.63%, at 6.194,91, while composite index BET-C fell 9.89 points, or 0.83%, to 1,177.83.

BET-FI decreased by 165.47 points, or 0.59%, at 28,074.48, pulled down by almost all the investment funds it tracks. Four of the five regional investment funds (SIFs) ended in red territory, and Fondul Proprietatea closed down 0.7%, while only SIF Oltenia (SIF5.RO) inched 0.06% higher.

Bucharest benchmark index BET-BK closed down 0.63%, while energy stocks tracker BET-NG dropped 0.47%.

Among the most traded stocks, OMV Petrom (SNP.RO) and BRD (BRD.RO) were both down 0.6%, while Banca Transilvania (TLV.RO) and Transgaz (TGN.RO) fell by 0.7% and 0.8% respectively.

The bourse’s turnover was less than half of Thursday’s total, but it was also supported mostly by trades with Fondul Proprietatea stock. The share transfers amounted to 48.3 million lei (EUR10.9 million), compared with RON123 million in the previous day. About three quarters of today’s traded value came from trades with Proprietatea, which summed up RON36.4 million, of which RON28.5 million in two special deals. (EUR1=RON4.4424)