Shares Close Down, Proprietatea Fund At All-time Low

04.19.2011 By Andrei Circhelan

The Bucharest Stock Exchange closed Tuesday below par, unable to recover the decline seen in the first half of the session, with the shares of Fondul Proprietatea (FP.RO) closing at their lowest level since the fund's listing in January.

The Bucharest Stock Exchange closed Tuesday below par, unable to recover the decline seen in the first half of the session, with the shares of Fondul Proprietatea (FP.RO) closing at their lowest level since the fund's listing in January.

The Bucharest Stock Exchange's composite index BET-C dropped 0.46% on the day, to 3,493.38, while the 10-share blue-chip index BET fell 0.4%, to 5,876.69.

Both indexes were influenced by the 1.54% drop registered by Fondul Proprietatea, to RON0.575, the lowest price since January 25, when the fund's shares were listed in Bucharest.

As a result, BET-FI, the index tracking Proprietatea and the five regional investment funds SIFs, dropped 0.82% on the day, to 25,292.85.

Wider blue-chip tracker BET-XT, which also includes the SIFs, fell 0.47% on the day, to 544.73, while energy companies index BET-NG closed at 820.69, down 0.36% on the day.

Trades unfolded Tuesday on the Bucharest bourse amounted to RON41.14 million, with RON16.4 million coming from trades with Proprietatea stock. Yesterday's overall traded value amounted to RON32.58 million.

Aside from the Proprietatea fund, SIF Oltenia (SIF5.RO) was the most traded issuer. Its shares closed down 0.78%, to RON1.524, on a traded value of RON5.17 million.

The shares of oil and gas company OMV Petrom (SNP.RO) rose 0.48% on the day, to RON0.423, while the stock of lender Banca Transilvania (TLV.RO) dropped 0.9% on the day, to RON1.535.

Another popular issuer Tuesday was construction company Concefa (COFI.RO), whose stock evolution ranked it among the day's greatest decliners. Concefa shares dropped 6.14% on the day, to RON0.133, on a traded value of RON1.06 million.