Bucharest Stocks Slightly Down In Early Trade, Fondul Proprietatea Up 0.2%

04.15.2013 By Bogdan Neagu

The Bucharest stock market was slightly down Monday morning, with Fondul Proprietatea (FP.RO) calming its advance after a two-day rally at the end of last week.

At around 10:45 local time (GMT0745), the Bucharest bourse’s BET index was down 0.14% from Friday’s closing level, while composite index BET-C inched 0.04% lower.

Proprietatea traded up 0.15% on the day at 0.671 lei (EUR0.15) per share, close to its all-time high (RON0.675) touched in the day of its bourse debut, January 25, 2011. In the past two sessions, Proprietatea gained a combined 4.7%, after last Wednesday’s announcement that the fund will soon start a share buyback program.

BET-FI was down 0.36%, as Proprietatea’s slight increase was offset by declines of most of the SIFs. SIF Muntenia (SIF4.RO) was down 2.3%, while both SIF Transilvania (SIF3.RO) and SIF Oltenia (SIF5.RO) were 0.5% lower.

Bucharest benchmark index BET-BK was down 0.34%, while BET-XT was losing 0.29%.

Energy stocks tracker BET-NG was down 0.67%, with Transelectrica (TEL.RO) losing 1.7% and OMV Petrom (SNP.RO) down 1.6%. Transgaz (TGN.RO) traded up 0.5%.

Among the bank stocks, BRD-Groupe Societe Generale (BRD.RO) traded up 1.2%, while Banca Transilvania (TLV.RO) was flat on the day.

The bourse’s turnover was reduced, reaching RON1.9 million (EUR0.4 million) after 45 minutes of the session, with Proprietatea leading the trading charts. (EUR1=RON4.396)