Romanian Shares Open Up, SIFs Buck Trend

04.14.2011 By Andrei Circhelan

Bucharest-traded shares opened Thursday slightly in the green, but the five regional investment funds, or SIFs, were losing some 0.5% on average.

Bucharest-traded shares opened Thursday slightly in the green, but the five regional investment funds, or SIFs, were losing some 0.5% on average.

At around GMT0740, the Bucharest Stock Exchange's composite index BET-C was up 0.18%, while the 10-share blue-chip tracker BET was gaining 0.17% on the day.

However, BET-FI, the index tracking investment fund Fondul Proprietatea (FP.RO) and the SIFs, was down 0.47%.

The extended blue-chip index BET-XT, which also includes the SIFs, was flat on the day, while energy companies tracker BET-NG was up 0.19% on the day.

Trades unfolded on the Bucharest Stock Exchange by GMT0743 amounted to 5.21 million lei (EUR1=RON4.114), higher than RON3.7 million around the same time Wednesday.

Popular stock early Thursday included Fondul Proprietatea, medicine maker Biofarm (BIO.RO), SIF Moldova (SIF2.RO), SIF Oltenia (SIF5.RO) and chemical company Oltchim (OLT.RO).