Bucharest Stocks Open Up, On Low Traded Values

01.15.2014 By Bogdan Neagu

The Bucharest-listed shares traded higher in early session Wednesday, helped by the financial sector, but the bourse’s turnover was reduced.

At around 11:00 local time (GMT0900), the Bucharest market’s BET index was up 0.6% from Tuesday closing level, while composite index Bet-C was rising 0.42%.

The growth was fueled by BRD-SocGen (BRD.RO), whose shares were up 1.2%, while Banca Transilvania (TLV.RO) rose 0.9%. Fondul Proprietatea (FP.RO) was flat on the day, but Transgaz (TGN.RO) was gaining 1%.

BET-FI, which tracks the main investment funds, was up 0.4%. The regional investment funds (SIFs) seem to have calmed down, after a strong increase on Monday and a significant correction the day after, but they were still above yesterday’s closing prices.

Bucharest benchmark index BET-BK was up 0.59%, while energy stocks tracker BET-NG was up 0.52%.

The bourse’s turnover was reduced, with share transfers reaching 1.6 million lei (EUR0.4 million) after the first hour of trading. The leading issuer was OMV Petrom (SNP.RO), with its shares up 0.2%, while Impact (IMP.RO) attracted some interest, which propelled its stock 8% higher. (EUR1=RON4.526)