Bucharest Stocks End Slightly Down, SIF Deal Lifts Traded Value

09.16.2013 By Bogdan Neagu

The Bucharest stock market ended in red territory Monday, with few shares posting large moves in a relatively quiet session, where the total traded value was lifted by deals with 6.3% in SIF Banat-Crisana (SIF1.RO).

About 6.27% of investment fund SIF Banat-Crisana shares were dealt for 45.4 million lei (EUR10.2 million) in two separate transactions. Both deals were closed at RON1.32 per share, up 13.9% on Friday closing price. However, on the regular market the fund’s shares closed down 5.1% on the day, at RON1.1, after the two transactions were announced.

BET-FI, the index that tracks the regional investment funds and Fondul Proprietatea (FP.RO), closed down 46.37 points, or 0.18%, at 26,221.42.

SIF Banat-Crisana drop and a minor decline of Proprietatea could not be offset by advances of three of the five SIFs. SIF Transilvania (SIF3.RO) rose 1.9%, SIF Oltenia (SIF5.RO) ended up 1.3%, while SIF Moldova (SIF2.RO) inched 0.1% higher. Fondul Proprietatea closed at RON0.708 per share, down a mere 0.07% from the all-time high of RON0.7105 per share reached Friday.

BET, the Bucharest bourse’s main index, was down 14.48 points, or 0.25%, to 5,833.22, while composite index BET-C fell 12.51 points, or 0.41%, to 3,068.34.

OMV Petrom (SNP.RO) closed down 1.1%, and Banca Transilvania (TLV.RO) lost 0.3%, while Transgaz (TGN.RO) edged 0.3% higher.

Bucharest benchmark index BET-BK was down a mere 0.02%, while energy stocks tracker BET-NG dropped 0.46%.

Besides the SIF deals, the traded values on the regular market were reduced, reaching around RON15 million. Fondul Proprietatea cumulated deals of RON5.8 million, while BRD (BRD.RO), SIF Transilvania and Banca Transilvania were the only other issuers that reached a traded value above RON1 million.

The bourse’s turnover amounted to RON60.2 million (EUR13.5 million), compared with RON25.7 million in Friday’s session. (EUR1=RON4.4551)