Bucharest Stocks Down In Early Trade, Fondul Proprietatea Bucks Trend

04.16.2013 By Bogdan Neagu

The Bucharest-listed stocks were mostly down Monday morning, following the European markets’ trend, but Fondul Proprietatea (FP.RO) stayed in green, recovering part of yesterday’s loss.

At around 11:00 local time (GMT0800), the Bucharest bourse’s BET index was down 0.6% from Monday closing level, while composite index BET-C was losing 0.46%.

Among BET’s ten constituents, Proprietatea was the only one in positive territory, with a 0.5% advance. OMV Petrom (SNP.RO) was down 1.7%, Transgaz (TGN.RO) traded 1.5% lower, while Banca Transilvania (TLV.RO) was losing 1.2%.

Proprietatea’s rise helped lifting the BET-FI index, which tracks the main investment funds.

BET-FI was up a mere 0.13%, with SIF Muntenia (SIF4.RO) also on the plus side, as it rose 0.6%. On the other hand, SIF Oltenia (SIF5.RO) traded down 0.4%, while the other three SIFs were all falling 0.2%.

Bucharest benchmark index BET-BK was down 0.26%, and BET-XT traded down 0.43%.

Petrom and Transgaz declines weighed heavily on energy stocks tracker BET-NG, which was falling 1.03%.

After the first hour of trading, the bourse’s total turnover amounted to some 3.3 million lei (EUR0.77 million), but just about half of the sum came from share trades, as the value of structured product transactions was at RON1.5 million. (EUR1=RON4.3806)