Bucharest Stocks Open Up, SIFs Lag Behind

04.08.2014 By Bogdan Neagu

The Bucharest stock exchange rose slightly in the first hour of Tuesday session, but some of the five regional investment funds (SIFs) were falling, keeping the BET-FI index in red territory.

At 11:00 local time (GMT0800), the Bucharest market’s BET index was up 0.26% from Monday closing level, while composite index BET-C was up 0.19%.

Among the best-traded stocks, BRD (BRD.RO) was up 1.2% and OMV Petrom (SNP.RO) was gaining 0.6%, while the shares of the Bucharest market operator (BVB.RO) traded up 1.4%.  Fondul Proprietatea (FP.RO), Transgaz (TGN.RO) and Banca Transilvania (TLV.RO) were all flat on the day.

BET-FI was down 0.3%, with SIF Oltenia (SIF5.RO) falling 1%, and SIF Banat-Crisana (SIF1.

Bucharest extended blue-chip index BET-XT was up 0.12%, but benchmark index BET-BK traded down 0.17%. Energy stocks tracker BET-NG was 0.11% higher.

The traded values were rather low, with share transfers amounting to 1.7 million lei (EUR0.4 million) after the first hour of trading, mostly due to trades with financial stocks. (EUR1=RON4.463)