Bucharest Stocks Fall Slightly, Dragged Down By Energy Sector

05.02.2014 By Bogdan Neagu

The energy stocks were in negative territory Friday morning, driving the Bucharest bourse lower on low traded values.

At around 11:00 local time (GMT0800), the Bucharest bourse’s BET index was down 0.14% from Wednesday closing level, while composite index BET-C was down 0.24%. the market was closed Thursday for a national holiday.

Almost all energy stocks included in the BET index were down: Nuclearelectrica (SNN.RO) was losing 0.6%, and Romgaz (SNG.RO) was down 0.7%, while both OMV Petrom (SNP.RO) and Transgaz (TGN.RO) traded 0.4% lower. Only Transelectrica (TEL.RO) among the energy companies was in green, with a 0.5% advance.

Banca Transilvania, the most sought after issuer in the first hour of the session, was up 0.3%, after transactions worth 2.6 million lei (EUR0.6 million), or 75% of the bourse’s total traded value of RON3.4 million.

Bucharest benchmark index BET-BK inched 0.03% lower, while BET-FI, which tracks the main investment funds, was up 0.13%. Fondul Proprietatea (FP.RO) was flat on the day, but four of the five regional investment funds (SIFs) were in positive territory, gaining between 0.2% and 0.8%.

Energy stocks tracker BET-NG was down 0.41%, and BET-XT was down a mere 0.08%. (EUR1=RON4.4503)