Romanian Shares Close Down, SIFs Lead Decline

04.12.2011 By Andrei Circhelan

The Bucharest bourse closed Tuesday on a downward trend, with a sharper decline posted by the five regional investment funds, or SIFs, while almost half of trades targeted investment fund Fondul Proprietatea (FP.RO) shares.

Romania's leu closed flat against the euro amid a sleepy session Tuesday, unaffected by the negative sentiment in the region after Japanese nuclear regulators have raised the crisis severity to maximum level.

Proprietatea shares closed down 1.16% on the day, to RON0.599, on a traded value of 16.71 million lei (EUR1=RON4.1152).

The Bucharest Stock Exchange's composite index BET-C fell 0.96%, to 3,549.77, while the 10-share blue-chip tracker BET dropped 0.87% on the day, to 5,943.92.

BET-FI, the index tracking the Proprietatea fund and the SIFs, closed at 26,576.49, down 1.44% on the day.

SIF Oltenia (SIF5.RO) shares fell 1.63% to RON1.629, on a traded value of RON3.04 million, and SIF Moldova (SIF2.RO) shares dropped 1.97% on the day, to RON1.442.

Wider blue-chip tracker BET-XT, which also includes the SIFs, decreased 1.03%, to 557.68, while the energy companies index, BET-NG, declined 0.74% on the day, to 832.64.

Trades unfolded Tuesday on the Bucharest Stock Exchange amounted to RON36.67 million. Monday's overall traded value stood at RON21.66 million.

Aside from the Proprietatea fund and the SIFs, popular stock Tuesday included lender Banca Transilvania (TLV.RO), which closed flat at RON1.495, and construction company Concefa Sibiu (COFI.RO), up 2.71%, to RON1.479.

Concefa was among today's top five issuers with respect for share price increases. The chart was topped by bread and pastry maker Boromir Prod Buzau (SPCU.RO), whose shares rose 9.16% on the day, but which was only subject to one trade, worth an insignificant RON143.