Banks, financial companies slip at closing on loss forecast at the Royal Bank of Scotland

Banks fell on the Bucharest Stock Exchange (BSE) after Erste plunge, following the massive loss estimates at the Royal Bank of Scotland (RBS).

Trading grew 26 percent to 10.19 million lei over the one seen at closing at the end of last week of 8.08 million lei.

The BET index of the ten best companies on the bourse sloped 2.19 percent to 2,746.92 and the BET-C composite index measuring all listed shares without financial companies fell 1.82 percent to 1,822.10.

The BET-FI index of the five financial companies known as SIF lost 2.85 percent to 13,570.36 while the ROTX index for trading blue chips in Vienna dropped 3.78 percent to 5,582.79.

The BET-XT index of the 25 most liquid companies went down 2.38 percent to 270.48 and the BET-NG index of the ten power companies decreased 2.14 percent to 390.23.

Big European markets started to lose ground at the closing in Bucharest after banks led by RBS deepened losses.

The FTSE index in London measuring the best 100 stocks fell 0.50 percent to 4,126.29 while the DAX index in Frankfurt lost 0.34 percent to 4,351.51. CAC40 in Paris eased off 0.74 percent to 2,994.33.

In Romania, the fifth lender by assets Banca Transilvania (TLV) is still a best seller as broker Florin Catinas told NewsIn. The stock dropped 5.04 percent to 1.13 lei on trading of 3.28 million lei.

Oil refining company Rompetrol Rafinare Constanta (RRC) depreciated 5.06 percent to 0.03 lei. The largest company Petrom (SNP) cheapened 0.52 percent to 0.19 lei.

Austrian-based lender Erste Bank (EBS) plummeted 8.91 percent to 56.20 lei. "Erste fell close to previous minimums," Catinas said.

The second bank by assets BRD SocGen (BRD) dipped 2.45 percent to 7.95 lei.

Financial company SIF Moldova (SIF2) depreciated 5.36 percent to 0.53 lei, SIF Muntenia (SIF4) decreased 0.74 percent to 0.67 lei, SIF Oltenia (SIF5) fell 4.03 percent to 0.595 lei. SIF Transilvania (SIF3) lost 1.81 percent to 0.326 lei and SIF Banat-Crisana (SIF1) dropped 3.91 percent to 0.615 lei.

NewsIn