Fondul Proprietatea Towards New Highs, Lifting Bucharest Bourse

09.27.2013 By Bogdan Neagu

The Bucharest stock market was slightly up in early trade Friday, dragged by investment fund Fondul Proprietatea (FP.RO), which reached a fresh all-time high.

At around 11:30 local time (GMT0830), the Bucharest bourse’s BET index was up 0.34% from Thursday closing level, while general index BET-C was 0.31% higher.

Fondul Proprietatea traded up 1.5% on the day, at 0.761 lei (EUR0.17), after it touched an all-time high of RON0.765 in early session, as the stock continues to attract large interest from investors.

Proprietatea accounted for more than 90% of the bourse’s traded value in the first 90 minutes of the session. At 11:30, share transfers amounted to 13.8 million lei (EUR3.1 million), of which Fondul Proprietatea contributed some RON12.6 million.

BET-FI, which tracks the evolution of Fondul Proprietatea and the five investment funds SIFs, was up 0.49%, while BET-XT was gaining 0.23%.

Bucharest benchmark index BET-BK was up 0.33%, while energy stocks tracker BET-NG was the only index in red territory, inching down 0.04%.