The Bucharest Stock Exchange shifts back to green at rising bell, financial companies up 3%

Publish date: 09-10-2008
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The five financial companies in Romania known as SIFs posted a 3.25 percent hike after the first half an hour of trading, in line with the major European bourses, which opened in the green after central banks stepped in.

Liquidity increased to 4.81 million lei (1.23 million euros) from 3.91 million lei in the previous session.

Trading on the BSE was stopped on October 8 at 11:08 a.m. Romania's hour in order to preserve the market integrity, after steep falls in the opening session. Transactions with share derivatives on the Romanian bourse in Sibiu (Sibex) were also suspended following the BSE decision. After consulting with players on the market, BSE decided to resume transactions today.

The BET index which assesses the ten best companies on the market upped 1.88 percent to 3,668.64 and the BET-C composite index measuring all listed shares minus financial companies climbed 2.05 percent to 2,716.01.

The BET-FI index of the five SIFs hiked 3.25 percent to 19,911.59 and the ROTX index for trading blue-chips in Vienna grew 2.79 percent to 8,925.55.

The BET-XT index of the 25 most liquid stocks appreciated 2.48 percent to 372.60 and the BET-NG index of the ten power companies added 1.70 percent to 514.63.

Bourses in the U.S. dropped for the sixth session in a row amid recession fears, despite the common intervention of the central banks, which cut the interest rates on October 8.

The Dow Jones (DJIA) composite index dipped 2 percent to 9,285 and the S&P 500 index of the best 500 companies on the market lowered 1.13 percent to 984. Nasdaq fell 0.83 percent to 1,740.

However, the major European bourses posted hikes on opening, following the decision of the six large central bank, including the European Central Bank (ECB) to reduce the key interest rate.

The Footsie index of the London stock exchange increased 1.48 percent to 4,431.43 and the Dax index in Frankfurt upped 0.81 percent to 5,054.09. The CAC 40 index in Paris gained 2.09 percent to 3,570.11.

In Romania, shares of the second lender by assets BRD SocGen (BRD) were the most liquid, with total deals of 1.06 million lei, and climbed 4.29 percent to 8.5 lei.

SIF Oltenia (SIF5) hiked 3.92 percent to 1.06 lei, SIF Moldova (SIF2) grew 2.27 percent to 0.9 lei, SIF Banat-Crisana (SIF1) added 3.23 percent to 0.96 lei, SIF Transilvania (SIF3) hiked 4.42 percent to 0.52 lei and SIF Muntenia (SIF4) added 3.79 percent to 0.685 lei.

Oil company Petrom (SNP) appreciated 3.17 percent to 0.26 lei and Erste Bank (EBS), the main shareholder of Romania's largest lender by assets, gained 3.80 percent to 112.1 lei.

Fertilizer producer Azomures (AZO) plunged 10.66 percent to 0.31 lei and gas operator Transgaz (TGN) dropped 6.37 percent to 147 lei.


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