Bucharest Stocks Lose Almost 1% In Dull Trading

04.23.2013 By Bogdan Neagu

The Bucharest stock exchange stayed in negative territory all day long, unlike international markets, with most blue-chips closing down on the day.

BET closed down 0.96%, with OMV Petrom’s (SNP.RO) 2.4% decline weighing heavily on the Bucharest bourse’s main index.

Banca Transilvania (TLV.RO) fell 1.2%, Transelectrica (TEL.RO) was down 2.2%, while Fondul Proprietatea (FP.RO) inched 0.2% lower. On the other hand, Transgaz (TGN.RO) was 1.2% higher.

Composite index BET-C was down 0.89% on the day, while investment fund tracker BET-FI dropped 0.7%, with all five regional investment funds (SIFs) ending in red. SIF Moldova (SIF2.

Bucharest benchmark index BET-BK closed down 0.47%, with Erste Group Bank (EBS.RO) among the few components that ended in positive territory, with a 3% advance. Extended blue-chip index BET-XT was 0.98% on the day.

Energy stocks tracker BET-NG posted the widest fall among Bucharest indexes, with a 1.13% drop, as Rompetrol Rafinare’s (RRC.RO) 2% decrease added to the declines of peers Petrom and Transelectrica.

Trading values were rather reduced with investors focusing on a few stocks. Share trades amounted to 18.8 million lei (EUR4.3 million), with Fondul Proprietatea, Erste and SIF Transilvania (SIF3.RO) covering more than three quarters of the sum. The bourse’s total traded value reached RON24.1 million (EUR5.5 million), fueled by structured product transactions worth RON5.2 million. (EUR1=RON4.355)