Bucharest Shares Close Up, Proprietatea Fund Rebounds

05.26.2011 By Andrei Cîrchelan

The Bucharest bourse closed Thursday in the green, while the five regional investment funds, or SIFs, rose about 2% on average and investment fund Fondul Proprietatea (FP.RO) broke its eight-day downward streak.

The Bucharest Stock Exchange's composite index BET-C rose 0.43% on the day, to 3,260.77, while the main index BET closed up 0.37%, at 5,438.54.

BET-FI, the index tracking the Proprietatea fund and the SIFs, rose 1.93% on the day, to 22,304.72, as Proprietatea stopped its decline and closed up 1.13%, while the SIFs saw robust increase as well.

The BET Extended index, or BET-XT, which tracks the top-25 blue-chips, gained 0.96%, to 503.19, while the index tracking energy companies, BET-NG, closed at 785.52, up 0.94% on the day.

Trades unfolded Thursday on the Bucharest Stock Exchange amounted to 45.08 million lei (EUR10.9 million), with RON4.8 million coming from one deal market trade in Fondul Proprietatea. Wednesday's overall traded value stood at RON52.67 million.

The Proprietatea fund maintained its position as top-traded issuer for another session. Its stock closed at RON0.4905, on a traded value of RON27.27 million.

Oltchim (OLT.RO), the second-top traded stock, continued its rally as the shares jumped 14.98%, to RON1.059, on a traded value of RON2.35 million.

Other popular stock Thursday included SIF Oltenia (SIF5.RO), which rose 2.45% to RON1.378, OMV Petrom (SNP.RO), which gained 0.38% to RON0.395, and Banca Transilvania (TLV.RO), which inched down 0.09%, to RON1.159. (EUR1=RON4.1333)