BUCHAREST (Romania), October 14 (SeeNews) – The Bucharest bourse indices rode a global rally to across-the-board gains of more than 4.0% on Wednesday, brokers said.
The blue-chip BET index of the Bucharest Stock Exchange, BVB, added 4.72% to 4,582.79 points. The BET-FI index, which tracks the country's five regional investment funds, the SIFs, jumped 4.02% to 24,293.22 points.
The composite BET-C index rose 4.33% to 2,792.74 and the ROTX index of Romania's 15 most liquid stocks, a joint index of the BVB and the Vienna Stock Exchange, closed 4.31% higher at 9,658.33.
“Our market had delinked from any global trends over the past week due to ongoing political events in Romania and the uncertainty they created. With today’s sharp gains we are playing catch-up,” one broker told SeeNews.
On Tuesday Romania's minority cabinet, led by Prime Minister Emil Boc, lost a no-confidence vote sought by the opposition over its performance. President Traian Basescu was expected to nominate a new head of government later on Wednesday.
“Political events could influence the market only if we don’t have a new and stable government immediately,” the broker said.
BVB's turnover rose to 32.3 million lei ($11.2 million/7.5 million euro) from 20.3 million lei on Tuesday. The number of traded shares increased to 69 million compared to 43.1 million on Tuesday.
SIF 5 Oltenia ended up 4.27% at 1.22 lei in the day's largest turnover of 4.4 million lei. SIF 2 Moldova climbed 4.67% to 1.12 lei on deals worth 3.9 million lei, Wednesday’s second largest turnover.
Blue-chip lender Banca Transilvania jumped 5.56% to 1.71 lei in the session’s third largest turnover of 2.8 million lei, and its blue-chip peer BRD closed up 3.2% at 12.9 lei in 1.2 million lei turnover. Austria’s Erste Bank advanced 3.44% to 129.3 lei in deals worth 2.2 million lei.
SIF 3 Transilvania was up 4.38% to 0.715 lei in 1.5 million lei turnover, while SIF 1 Banat Crisana rose 2.65% to 1.16 lei in 1.15 million lei turnover.
Blue-chip oil and gas group Petrom gained 4.6% to 0.273 lei in 2.5 million lei turnover, while blue-chip oil and gas company Dafora soared 9.43% to 0.116 lei in deals worth 896,000 lei. Fertiliser maker Azomures rocketed by 16.67% to 0.35 lei in 1.5 million lei turnover. "It's a speculative stock, so no surprise here," the broker added.
The BET-XT index, which tracks the 25 most liquid companies on the bourse, including the SIFs, picked up 4.42% to 459.05 points. The BET-NG, which includes companies from the energy sector and utilities, surged 4.91% to 615.21 points.
Rasdaq-C, the composite index of the over-the-counter market RASDAQ, added 0.91% to 2,236.95. Turnover on the RASDAQ doubled to 1.7 million lei from 855,000 lei on Tuesday.
(1 euro = 4.2932 Romanian lei)