Romanian stocks slump today responding to shock on foreign markets after U.S. lender went bankrupt

Romanian stocks listed at the Bucharest Stock Exchange (BSE) lost today more than 3.5 percent on average, affected by the announcement that the American lender Lehman Brothers started bankruptcy procedures, brokers said.

Liquidity reduced to 15.71 million lei after 45.7 million lei yesterday at closing, spurred only by the initial public offering with municipality bonds issued by the Bacau town hall.

The Romanian market correlated to the evolution of international markets which plunged under the effect of negative news from the U.S., broker with Broker Cluj, Darie Moldovan, told NewsIn.

The BET index pointing to the evolution of the ten best companies on the market lost 4.24 percent to 4,823.21 and the BET-C composite index measuring all listed shares minus financial companies slipped 3.67 percent to 3,645.46.

The BET-FI index of the five financial companies known as SIF decreased 5.14 percent to 30,191.29 and the ROTX index for trading blue chips in Vienna slipped 4.02 percent to 11,635.96.

"The BET-FI index seemed to be approaching the psychological threshold of 30,000 points, but investors strengthened it when it fell below this level," Moldovan said.

The BET-XT index of the 25 most liquid companies on BSE plummeted 4.28 percent to 515.68 and the BET-NG index of the ten power companies on the bourse fell 4.81 percent to 682.23.

NewsIn