Bucharest Stocks Rise, BRD Propels Traded Values

10.29.2013 By Bogdan Neagu

The Bucharest stock exchange rose Tuesday, and the total traded value increased significantly, due to a deal with a 0.4% stake in BRD-Groupe Societe Generale (BRD.RO).

The BET index ended at 6,040.69, up 108.55 points, or 1.83%, from Monday closing level, while composite index BET-C gained 39.31 points, or 1.26%, to 3,155.56.

Investors traded shares worth of 50.8 million lei (EUR11.4 million) in Tuesday session, significantly above RON14.7 million in the previous day. More than half of the total came from trades with BRD shares worth a total RON27.8 million, including a deal with 0.43% of the bank’s shares closed in the morning for RON27.2 million.

BRD ended at RON9 per share, up 1.9% from Monday closing price. Banca Transilvania (TLV.RO) rose 3.5%, while OMV Petrom (SNP.RO) and Fondul Proprietatea (FP.RO) added 1.4% and 1.3%, respectively.

BET-FI, which tracks Proprietatea and the five regional investment funds (SIFs), closed up 359.27 points, or 1.35%, at 27,047.9. Bucharest benchmark index BET-BK was up 1.2%, while energy stocks tracker BET-NG gained 0.5%. (EUR1=RON4.443)