Romania's stock market rallied on closing, underpinned by the rise of the banking sector
Publish date: 24-07-2009Indexes of the Bucharest Stock Exchange (BSE) ended Thursday's session with hikes of up to 2 percent for the most liquid stocks, in the context of powerful climbs recorded on the banking sector after the Finance Ministry borrowed one billion euros from a consortium of lenders.
The Public Finance Ministry (MFP) borrowed Wednesday one billion euros from eight banks under the form of a club loan to cover the budget gap, confirmed yesterday for The Money Channel the head of lender Banca Transilvania, Robert Rekkers.
According to Business Standard, BCR, BRD, UniCredit, Raiffeisen, Banca Transilvania, Volksbank, Bancpost and Alpha Bank lent the state one billion euros, each bank coming with different amounts in the structure of the loan, for an interest rate that could stand at 5 percent per year.
Liquidity stood at 11.97 million lei (2.83 million euros), 36 percent below the level of the previous session.
The BET index reflecting the evolution of the ten best companies on the market grew 1.97 percent to 3,656.98 and the BET-C composite index assessing all listed shares without financial companies upped 1.24 percent to 2,206.60.
The BET-FI index of the five SIFs gained 0.79 percent to 17,719.75 and the ROTX index for trading blue-chips in Vienna added 2.14 percent to 7,345.82.
The BET-XT index of the 25 most liquid companies climbed 1.76 percent to 350.74 and the BET-NG index showing the evolution of the power market inched 0.15 percent to 515.93.
On the local market, lender Banca Transilvania (TLV) was the most liquid stock today and generated deals of 3.23 million lei, hiking 5.08 percent to 1.24 lei. BRD SocGen (BRD) advanced 3.43 percent to 9.05 lei and Erste Bank (EBS) gained 1.74 percent to 87.50 lei.
Financial company SIF Oltenia (SIF5) idled at 0.885 lei, SIF Moldova (SIF2) appreciated 1.3 percent to 0.78 lei, SIF Transilvania (SIF3) went up 1.1 percent to 0.459 lei and SIF Muntenia (SIF4) remained at 0.65 lei.
Oil company Petrom (SNP) grew 0.81 percent to 0.249 lei while Transgaz Medias (TGN) lost 0.59 percent to 152.70 lei.
NewsIn
Latest News:
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei