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Nov 13, 2009 18:13 EEST
BUCHAREST (Romania), November 13 (SeeNews) – Romanian stocks edged mostly higher on Friday, tempering the strong gains posted in the previous two days, brokers said.
The blue-chip BET index of the Bucharest Stock Exchange, BVB, added 0.62% to 4,829.68 points. The BET-FI index, which tracks the country's five regional investment funds, the SIFs, edged down 0.07% to 23,127.54 points.
The composite BET-C index edged up 0.04% to 2,811.36. The ROTX index of Romania's 15 most liquid stocks, a joint index of the BVB and the Vienna Stock Exchange, gained 0.58% to 10,206.09.
“Emotions calmed down a bit after the rally on the SIFs in the past two days. Especially yesterday there were many buyers on the market but they are gone today. It's difficult to get back those large amounts of money on the market considering the current instable political and economic situation in Romania. Investors remain sceptic for the moment,” one broker told SeeNews.
The SIFs have piled hefty gains since Wednesday, when the upper chamber of Romania's parliament raised to 5.0% from 1.0% the cap on individual shareholding in each of the five funds. The cap is designed to prevent any single investor from gaining control of the SIFs, which hold significant stakes in major companies across all sectors of the Romanian economy. The parliament's lower house, however, will have the final say on the draft legislation regarding the ownership ceiling.
BVB's turnover decreased to 26.6 million lei ($9.2 million/6.2 million euro) from 39.1 million lei on Thursday. The number of traded shares decreased to 40.1 million from 61.2 million on Thursday.
SIF 5 Oltenia added 0.83% to 1.22 lei in the day's largest turnover of 7.1 million lei. SIF 2 Moldova ended flat at 1.08 lei on deals worth a total of 4.8 million lei, Friday’s second highest turnover. Blue-chip lender Banca Transilvania gained 1.94% to 2.1 lei on the regular market in the session’s third largest turnover of 2.4 million lei.
SIF 1 Banat Crisana and SIF 3 Transilvania both closed unchanged at 1.11 lei and 0.665 lei, respectively. SIF 4 Muntenia declined 1.43% to 0.69 lei in deals worth 1.3 million lei.
The other blue-chip bank, BRD, climbed 0.73% to 13.8 lei in 1.15 million lei turnover, and Austria’s Erste Bank ended 0.15% up at 133 lei in deals worth a total of 635,000 lei.
Blue-chip oil and gas group OMV Petrom depreciated by 0.76% to 0.261 lei in 561,000 lei turnover. Drug maker Zentiva SA jumped 6.06% to 0.7 lei in deals worth 2.2 million lei. The BET-XT index, which tracks the 25 most liquid companies on the bourse, including the SIFs, rose 0.34% to 468.22 points. The BET-NG, which includes companies from the energy sector and utilities, ended unchanged at 612.49 points.
Rasdaq-C, the composite index of the over-the-counter market RASDAQ, ticked 0.95% lower to 2,235.52. Turnover on the RASDAQ doubled to 2.1 million lei from 960,000 lei on Thursday.
(1 euro = 4.2988 Romanian lei)
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