Bucharest Stocks Close Slightly Down, Profit Forecasts Weigh In

03.27.2015 By Bogdan Neagu

The Bucharest stock exchange closed slightly lower Friday, with the main stocks affected by the the budget proposals made in advance of shareholder meetings.

The bourse’s BET index was down 0.14% from Thursday closing level, while BETPlus fell 0.18%.

Among the blue-chips, Transelectrica (TEL.RO) was hit heaviest, with its stock down 3.25%, despite announcing palns to pay a 25% higher dividend for last year. However, the company also said its profit is expected to fall by more than 60% in 2015.

OMV Petrom (SNP.RO) fell 1.3%, after the company announced it would pay an almost three-time lower dividend. On the other hand, Romgaz (SNG.

BET-FI closed up 0.31%, helped by SIF Oltenia’s (SIF5.RO) 1.4% increase. Fondul Proprietatea (FP.RO) closed almost flat on the day.

Bucharest benchmark index BET-BK was down 0.34%, while energy stocks tracker BET-NG dropped 0.29%. Total return indexes BET-TR and BET-XT-TR went down 0.14% and 0.06%, respectively.

The traded values were reduced, with share transfers of nearly 17 million lei (EUR3.8 million). Transelectrica and Romgaz were the most traded stocks, followed by BRD (BRD.RO), whose shares closed up 1.1%.