Bucharest Stocks Close Up, Nuclearelectrica Bucks Trend

12.27.2013 By Bogdan Neagu

The Bucharest stock exchange closed higher Friday, but the shares of nuclear energy producer Nuclearelectrica (SNN.RO) fell 0.7% after two key investors announced they would leave the project to build two new reactors at the company’s power plant in Cernavoda.

On Monday, Enel and ArcelorMittal said they would sell their stakes in EnergoNuclear, the joint-venture created to build the two reactors. Nuclearelectrica will remain the sole shareholder of the company.

Despite Nuclearelectrica’s fall, the Bucharest bourse’s BET ended up 0.96%, at 6,477.94, as all the other nine components of the index ended in green.

BRD (BRD.RO) and Romgaz (SNG.RO) were both up 0.8%, Fondul Proprietatea (FP.RO) added 0.4%, while Banca Transilvania (TLV.

General index BET-C was up 0.7% to 3,337.89 points, while investment fund tracker BET-FI increased by 1% to 31,168.76 points.

Bucharest benchmark index BET-BK was up 0.97%, while BET-XT, which tracks the 25 most traded stocks on the Romanian capital market, closed 0.98% higher.

Energy sector index BET-NG gained just 0.65%, dragged down by Nuclearelectrica, while Transelectrica (TEL.RO) was up 2.2%. OMV Petrom (SNP.RO) closed up 0.8%, while Transgaz (TGN.RO) increased by 0.3%.

The traded values were reduced, with share transfers reaching 20.6 million lei (EUR4.6 million). BRD and Romgaz were the most traded issuers, followed by Transgaz. (EUR1=RON4.4597)