Bucharest Stocks Inch Lower In Late Trade

03.25.2015 By Bogdan Neagu

The Bucharest stock exchange closed slightly lower Wednesday, after staying in green territory earlier in the day, while the traded values declined.

Both the BET index and BETPlus were down a mere 0.03%, while BET-FI dropped 0.35%. Banca Transilvania (TLV.RO) stock rose 1%, while BRD (BRD.RO) posted a similar advance.

On the other hand, OMV Petrom (SNP.RO) fell 1.4% and Transelectrica (TEL.RO) closed down 1.7% after both companies announced their dividend proposals. While Petrom proposed a dividend almost three-times lower than last year, Transelectrica wants to distribute a 25% higher amount from the 2014 profits.

Fondul Proprietatea (FP.

RO) closed up a mere 0.06%, but SIF Muntenia (SIF4.RO) fell 1.7% while SIF Oltenia (SIF5.RO) went down 1.5%.

Bucharest benchmark index BET-BK was down 0.18%, while energy stocks tracker BET-NG fell 0.42%. Total return indexes BET-TR and BET-XT-TR closed both down 0.04%.

The overall value of share transfers reached 31.4 million lei (EUR7.1 million), down from RON52.7 million on Tuesday, while Proprietatea was the most traded issuer.