Bucharest Stocks Inch Higher, BRD Deal Lifts Turnover

05.09.2013 By Bogdan Neagu

The Bucharest stock market traded higher Thursday morning, after a hesitant start of the session, with a large deal with BRD-Groupe Societe Generale (BRD.RO) shares lifting the bourse’s turnover.

At 11:37 local time (GMT0837), the BET index was up 0.91% from Wednesday closing level, while composite index BET-C traded up 0.82%.

BRD shares were up 4.5%, but OMV Petrom was losing 0.2% and Fondul Proprietatea (FP.RO) traded flat on the day.

BET-FI, which tracks Proprietatea and the five regional investment funds (SIFs) was up 0.8%. SIF Transilvania (SIF3.RO) was rising 3.8%, after yesterday’s 25% decline in the ex-dividend date. and SIF Moldova (SIF2.RO) was up 2.3%.

Bucharest benchmark index BET-BK was up 0.8% and BET-XT was gaining 0.95%.

The traded values reached 33.2 million lei (EUR7.7 million), fueled by a special deal worth RON28 million with 0.6% of BRD. On the regular market, SIF Transilvania was the most traded issuer, with transfers of RON1.5 million. (EUR1=RON4.3117)