Bucharest Stocks Open Slightly Down, Trading Falters

03.07.2013 By Bogdan Neagu

The Bucharest stock exchange opened slightly down Thursday, after two consecutive days of increases, while the trading values remained reduced.

At around 10:30 local time (GMT0830), the Bucharest’s BET index was down 0.22% from Wednesday closing level, while general index BET-C was down 0.15%.

Investment fund index BET-FI inched down 0.08%, as Fondul Proprietatea (FP.RO) stopped its recent rally and traded down 0.8%. Wednesday, Proprietarea touched a two-year high at RON0.625 per share. The five regional investment funds (SIFs) were all in green territory, led by SIF Transilvania’s (SIF3.RO) 0.4% advance.

Bucharest benchmark index BET-BK was down 0.11%, while BET-XT was losing a mere 0.09%.

Energy stocks tracker BET-NG inched higher, as OMV Petrom (SNP.RO) traded almost flat and Rompetrol Rafinare (RRC.RO) rose 1%, while Transgaz (TGN.RO) was losing 0.6%.

The traded values were low after the first 30 minutes of the session, reaching 1.7 million lei (EUR0.4 million), with financial stocks dominating the charts. (EUR1=RON4.3615)