Romanian stocks plunge at weekend, despite interest stirred by Erste's recent listing

Publish date: 16-02-2008
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Romanian stocks at the Bucharest Stock Exchange (BSE) fell on closing at the end of the week, despite significant trading with unlisted stocks and investors' interest over the Erste recently-listed shares.

Deals today reached 21.93 million lei (6.03 million euros). The BET index of the ten top performers on the market lost 2.06 percent to 7,136.17 and the BET-C index assessing all listed shares without the five investment funds dropped 2.29 percent to 4,961.89.

The BET-FI index of the five financial companies SIFs decreased 2.04 percent to 57,632.54 and the ROTX index for trading blue-chips in Vienna dipped 1.99 percent to 15,724.96.

Lenders dominated the market today, BRD SocGen (BRD), the second bank by assets in Romania, generating deals of 2.88 million lei after a 3.30 percent fall to 17.60 lei. Banca Transilvania (TLV), the fifth by assets in Romania, remained at 0.7250 lei and Erste, the majority owner of the country's No.1 lender by assets, Banca Comerciala Romana, closed at 138 lei, a 2.68 percent drop versus yesterday.

SIF Muntenia (SIF4) fell at 1.73 lei, SIF Transilvania (SIF3) dropped to 1.58 lei and SIF Oltenia (SIF5) decreased to 3.30 lei.

Gas operator Transgaz Medias (TGN) cheapened 3 percent to 242.50 lei. Oil refinery Rompetrol Rafinare Constanta (RRC) dropped to 0.0830 lei and oil company Petrom, the largest company in Romania, slipped to 0.3670 lei.

Brokerage SSIF Broker Cluj (BRK) fell 1.46 percent to 2.02 lei.


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