Romania's financial sector crashes 6.8% in today's session, on panic sales

Publish date: 18-06-2009
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The five financial companies listed on the Bucharest Stock Exchange (BSE) plunged almost 7 percent in today's session, on panic sales generated by powerful corrections on external markets and by the deferred decision regarding the ownership threshold, brokers say.

Liquidity hiked to 28 million lei (6.61 million euros), from 23.59 million lei in the previous session.

"Today's drop had two components, the most important of them being connected to the evolution of foreign markets, which began to drop and I believe a correction is now under way after the hikes in the past three months," declared for NewsIn Alin Brendea, vice president and operations director at the brokerage house Prime Transaction.

The BET index measuring the ten best companies on the bourse dropped 4.05 percent to 3,290.07 and the BET-C composite index assessing all listed shares without financial companies lowered 3.56 percent to 2,046.32.

The BET-FI index of the five financial companies known as SIF l lost 6.81 percent to 15,837.29 and the ROTX index for trading blue chips in Vienna went down 3.73 percent to 6,606.07.

The BET-XT index of the 25 most liquid stocks slided 4.73 percent to 316.27 and the BET-NG index of the ten power companies depreciated 4.52 percent to 475.93.

Financial company SIF Oltenia (SIF5) was the most liquid stock today, with deals of 6.89 million lei, and plunged 7.78 percent to 0.83 lei. SIF Moldova (SIF2) dipped 7.43 percent to 0.685 lei, SIF Banat-Crisana (SIF1) sank 7.56 percent to 0.795 lei and SIF Transilvania (SIF3) plummeted 7.8 percent to 0.402 lei.

Second Romanian lender by assets BRD SocGen (BRD) lost 3.05 percent to 7.95 lei and Banca Transilvania (TLV) lowered 2.61 percent to 1.12 lei.

Drug maker Zentiva (SCD) slipped 0.81 percent to 0.61 lei and oil company Petrom (SNP) decreased 4.92 percent to 0.232 lei.


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