Bucharest Stocks Open Slightly Down, On Low Traded Values

03.27.2013 By Bogdan Neagu

The Bucharest bourse was slightly down in early trade Wednesday, but the interest was extremely reduced with only several financial stocks gathering some interest.

At around 10:30 local time (GMT0830), the Bucharest market’s BET index was down 0.25% from Tuesday closing level, while composite index BET-C was down 0.14%.

Banca Transilvania (TLV.RO) and OMV Petrom (SNP.RO) were among the losers, with declines of 0.7% and 0.4%, respectively, while Transgaz (TGN.RO) traded up 0.8%.

BET-FI, which tracks Fondul Proprietatea (FP.RO) and the five regional investment funds (SIFs), inched 0.08% higher. SIF Transilvania (SIF3.RO), SIF Oltenia (SIF5.

RO) and Proprietatea were all gaining 0.2%, but SIF Moldova (SIF2.RO) traded down 0.1%.

Bucharest benchmark index BET-BK was down a mere 0.04%, while extended blue-chip index BET-XT was down 0.13%. Energy stocks tracker BET-NG was losing 0.15%.

The traded values were very low after the first 30 minutes of the session, with the total barely reaching 1 million lei (EUR0.23 million). However, share trades accounted for less than half of the overall value, with the rest coming from transactions with structured products.

Fondul Proprietatea and Banca Transilvania accounted for around 80% of the share trades’ value, of some RON0.4 million. (EUR1=RON4.4111)

Keywords:: STOCK EXCHANGE; , OPENING BELL

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