BUCHAREST (Romania), October 1 (SeeNews) – The Bucharest bourse indices fell on Thursday, following the break-up of Romania's ruling coalition, brokers said.
The blue-chip BET index of the Bucharest Stock Exchange, BVB, fell 1.95% to 4,311.73 points. The BET-FI index, which tracks the country’s five regional investment funds, the SIFs, dropped 2.78% to 24,574.57 points.
The composite BET-C index lost 1.45% to 2,619.37 and the ROTX index of Romania's 15 most liquid stocks, a joint index of the BVB and the Vienna Stock Exchange, dipped 2.27% to 9,172.52.
All ministers of the left-wing Social Democratic Party, PSD, resigned earlier on Thursday after President Traian Basescu endorsed the dismissal of Interior Minister Dan Nica, who is affiliated with the PSD.
The collapse of the ruling coalition could eventually lead to a fall of the nine-month government just two months ahead of the country’s presidential elections.
“It’s possible we may witness more losses over the next few days as the political situation will not simmer down anytime soon. However, political turbulence around the time of the [presidential] election was certainly not unexpected,” one broker told SeeNews.
“Still, politics will not be the only trend-setter, we’ll definitely keep an eye on the global markets.”
BVB's turnover fell to 39.1 million lei ($13.4 million/9.2 million euro) from 49.5 million lei on Wednesday. The number of traded shares decreased to 74.5 million from 96.8 million on Wednesday.
SIF 5 Oltenia slid 3.13% to 1.24 lei in the day's largest turnover of 8.5 million lei. SIF 1 Banat Crisana dropped 4.8% to 1.19 lei on deals worth 4.75 million lei, Thursday’s second largest turnover. SIF 2 Moldova dipped 2.56% to 1.14 lei in the session’s third largest turnover of 2.9 million lei.
SIF 3 Transilvania fell 2.05% to 0.715 lei in 2.9 million lei turnover, while SIF 4 Muntenia shed 1.3% to 0.76 lei in 1.4 million lei turnover.
Blue-chip lender BRD closed 2.4% lower at 12.2 lei in 2.2 million lei turnover, while its blue-chip peer Banca Transilvania fell 0.63% to 1.59 lei in 1.8 million lei turnover. Austria’s Erste Bank lost 3.82% to 126.251 lei in a turnover of 601,000 lei.
Blue-chip oil and gas company Dafora ended unchanged at 0.118 lei in 2.7 million lei. Blue-chip oil and gas group Petrom closed 2.64% lower at 0.258 lei in deals worth 903,000 lei.
The BET-XT index, which tracks the 25 most liquid companies on the bourse, including the SIFs, was down 2.05% to 439.15 points. The BET-NG, which includes companies from the energy sector and utilities, closed 1.75% lower at 580.49 points.
Rasdaq-C, the composite index of the over-the-counter market RASDAQ, fell 0.46% to 2,209.33. Turnover on the RASDAQ halved to 3.7 million lei from 7.6 million lei on Wednesday.
(1 euro = 4.2479 Romanian lei)
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