Bucharest Stocks Rise, Fondul Proprietatea Reaches New All-Time High

09.19.2013 By Bogdan Neagu

The Bucharest stock exchange closed higher Thursday, on improved traded values, with Fondul Proprietatea (FP.RO) and Banca Transilvania (TLV.RO) attracting the largest attention from investors.

BET closed up 64.88 points, or 1.11%, at 5,889.63, while composite index BET-C gained 22.26 points, or 0.73%, to 3,090.2.

Proprietatea rose 1.5% to an all-time high of 0.72 lei (EUR0.16) per share, as the sentiment on the emerging markets improved after the U.S. Federal Reserve announced it would keep its stimulus measures intact for now.

Banca Transilvania rose 2.2%, and BRD-Groupe Societe Generale (BRD.RO) added 1.1%, while OMV Petrom (SNP.RO) inched 0.1% higher. Transgaz (TGN.

BET-FI, the index that tracks Fondul Proprietatea and the five regional investment funds (SIFs), increased by 297.89 points, or 1.14%, to 26,449.17. SIF Transilvania (SIF3.RO) rose 2.4%, but the other four SIFs posted gains between 0.5% and 1%.

Bucharest benchmark index BET-BK was up 1.06%, while the extended blue-chip index BET-XT gained 1.1%.

Energy stocks tracker BET-NG closed unchanged on the day at 639.42 points, as Transelectrica’s (TEL.RO) 2% advance was offset by declines of Transgaz and of Rompetrol Rafinare (RRC.RO), which closed down 1.3%.

The bourse’s liquidity improved Thursday, with share transfers reaching RON43.4 million (EUR9.8 million), propelled by Proprietatea. Trades with the fund’s shares on the regular market reached RON11.5 million, and two special deals added almost RON9 million.

Banca Transilvania and SIF Transilvania contributed RON2.9 million and RON2.6 million respectively, while special deals with Petrom and Transgaz stakes amounted to RON6.8 million. The traded value was three times higher than RON14.4 million on Wednesday. (EUR1=RON4.4509)