Shares Close Down, Transgaz Drops 7%

05.02.2011 By Andrei Circhelan

The Bucharest bourse closed Monday clearly in the red, on a lower traded value, with most transactions targeting investment fund Fondul Proprietatea (FP.RO).

The Bucharest Stock Exchange's composite index BET-C fell 1.33% on the day, to 3,481.33, while 10-share blue-chip index BET dropped 0.8%, to 5,873.97.

Both indexes were negatively influenced by the 2.59% day-on-day decline of Proprietatea shares and the 7% drop seen by state-owned gas transporter Transgaz (TGN.RO).

Proprietatea shares closed at 0.546, on a traded value of 24.46 million lei (some EUR6 million), while Transgaz shares closed at RON252.5, on a traded value of RON4.29 million.

The BET-FI index, which tracks the Proprietatea fund and the five regional investment funds, or SIFs, fell 0.86% on the day, to 25,345.75. The only issuer, included in this index, to post a positive evolution was SIF Banat-Crisana (SIF1.RO), up 1.67% to RON1.257.

Wider blue-chip tracker BET-XT, which also includes the SIFs, decreased 0.72%, to 547.62, while energy companies index BET-NG declined 2.73% on the day, to 816.06, brought down by Transgaz and fluid systems maker Condmag (COMI.RO), down 5.29% to RON0.38.

Trades unfolded Monday on the Bucharest bourse amounted to RON51.66 million, with RON6.65 million coming from two deal market trades in Transgaz and the Proprietatea fund. Another RON1.18 million came from trades with structured products.

Friday's overall traded value reached RON53.81 million with the Proprietatea fund subject to main market trades worth a total RON41.07 million and deal market trades worth a total RON3.39 million.

Aside from the Proprietatea fund and Transgaz, other popular stock Monday included lender Banca Transilvania (TLV.RO), up 1.83% to RON1.56, SIF Oltenia (SIF5.RO), down 1.91% to RON1.54 and oil company OMV Petrom (SNP.RO), down 0.64% to RON0.4372.