External market optimism pushes Bucharest stock market up by 2%, on low transactions

Publish date: 16-07-2009
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A series of financial results above estimates reported by large corporations in the U.S. brought back optimism on the markets and raised the Bucharest Stock Exchange (BSE) up by 2 percent, underpinned by powerful hikes in the power and banking sectors.

Liquidity stood at 14 million lei (3.33 million euros), generated 58 percent from transactions with bonds issued by the International Bank for Reconstruction and Development (IBRD) and by state securities.

The BET index of the ten best companies on the market added 2.32 percent to 3,415.67 and the BET-C composite index assessing all listed shares without financial companies upped 2.02 percent to 2,088.67.

The BET-FI index of the five SIFs gained 2.04 percent to 15,994.50 and the ROTX index for trading blue-chips in Vienna increased 2.87 percent to 6,836.41.

The BET-XT index of the 25 most liquid stocks climbed 2.31 percent to 324.27 and the BET-NG index reflecting the evolution of the power market rallied 2.28 percent to 497.82.

Lender Erste Bank (EBS) hiked 4.23 percent to 81.30 lei and Banca Transilvania (TLV) grew 2.83 percent to 1.09 lei.

Gas operator Transgaz Medias (TGN) was the most liquid stock today, with transactions totaling 640,500 lei, and increased 1.7 percent to 149.70 lei. Rompetrol Rafinare (RRC) inched 0.22 percent to 0.0452 lei.

Financial company SIF Transilvania (SIF3) rose 2.72 percent to 0.415 lei and SIF Oltenia (SIF5) advanced 2.52 percent to 0.815 lei.

Oil company Petrom (SNP) hiked 5.26 percent to 0.24 lei.


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