Romania's financial companies crash 9.20%, following corrections on foreign markets

Publish date: 16-10-2008
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The Bucharest Stock Exchange (BSE) suffered strong corrections in today's session after two consecutive days of significant growth, with the five financial companies in Romania known as SIFs plunging an average 9.20 percent.

Liquidity dropped 40 percent to 28.28 million lei (7.47 million euros) from 49.04 million lei in the previous session.

The BET index of the ten best companies on BSE eased 5.38 percent to 3,619.70 and the BET-C composite index measuring all listed shares minus financial companies lost 6.17 percent to 2,716.61.

The BET-FI index of the five financial companies SIF slumped 9.20 percent to 17,544.46 and the ROTX index for trading blue chips in Vienna lowered 6.06 percent to 8,591.31.

The BET-XT index of the 25 most liquid companies fell 6.41 percent to 354.83 and the BET-NG index which reflects the evolution of the ten power companies dipped 6.96 percent to 491.37.

Shares of second Romanian lender by assets BRD SocGen (BRD) were the most liquid, with deals totaling 5.7 million lei, and depreciated 5.64 percent to 9.20 lei.

SIF Oltenia (SIF5) plummeted 10.66 percent to 0.88 lei, SIF Moldova (SIF2) plunged 11.05 percent to 0.7650 lei, SIF Transilvania (SIF3) slipped 5.4 percent to 0.473 lei and SIF Muntenia (SIF4) fell 8.63 percent to 0.635 lei.


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