Bucharest Stocks Rise In Early Trade, Fondul Proprietatea Fuels Trading Values

04.29.2013 By Bogdan Neagu

The Bucharest stock market rose slightly in early trade Monday, in a quiet session, as almost half of the listed companies are suspended from trading due to holding the general shareholder meetings.

At around 10:48 local time (GMT0748), the Bucharest bourse’s BET index was up 0.09% from Friday closing level, while composite index BET-C was up a mere 0.01%.

BET-FI, which tracks the main investment funds, was up 0.71%. Fondul Proprietatea (FP.RO) was up 0.45%, but SIF Muntenia (SIF4.RO) gained 2.74%, while both SIF Moldova (SIF2.RO) and SIF Transilvania (SIF3.RO) traded up 0.75%.

Bucharest benchmark index BET-BK was up 0.35% and BET-XT was increasing 0.23%.

Energy stocks tracker BET-NG was down 0.14%, with OMV Petrom (SNP.

Traded values were relatively low, reaching 4.4 million lei (EUR1 million), of which RON3.6 million was ensured by transactions with Fondul Proprietatea stock. (EUR1=RON4.3366)