Romanian stock indices close mixed in higher turnover
Bulgarian stock indices retreat amid higher turnover
Bulgaria to collect 2.1 bln euro for energy security fund in 2023
OECD downgrades Slovenia's 2023 GDP growth f'cast to 1.4%
Rompetrol Rafinare invests $6.5 mln in storage tanks overhaul
Sep 25, 2007 17:33 EEST
September 25 (SeeNews) - The four indices of the Bucharest Stock Exchange (BVB) lost ground on Tuesday led by losses in key stocks, blue chips and the five regionally-defined investment funds, the SIFs, brokers said.
The BVB's blue-chip BET index ended 2.14% lower at 9,659.93 points, while the BET-FI index, which only tracks the SIFs, was the biggest loser among the four indices, ending down 2.59% to 77,295.54 points.
The composite BET-C index lost 2.04% to 6,619.48 and the ROTX index of Romania's nine most liquid stocks, a joint index of the BVB and the Vienna Stock Exchange, shed 2.12% to 21,276.58 points.
BVB turnover fell to 36.6 million lei ($15.2 million/10.8 million euro) from Monday’s 21.1 million lei.
"I think this is a downward trend, it is not a strong one but compared to the all-time highs in July it is downward. The liquidity is quite low, some 15-20% lower than during the record highs. Definitely the SIFs and the blue chips marked significant losses today. We’ve got BRD bank, [power grid operator] Transelectrica, SIF 4 Muntenia and SIF 3 Transilvania falling by more than three percent each," one broker told SeeNews.
Blue-chip bank Banca Transilvania was the leading stock in turnover, with 5.1 million lei, losing 1.14% to 0.87 lei. SIF 5 Oltenia came second in terms of turnover, going 1.87% down to 4.20 lei in turnover of 4.9 million lei. Blue-chip bank BRD dropped three percent to 25.9 lei in the third largest turnover of 4.4 million lei.
Blue chips Petrom and Rompetrol Rafinare fell by more than two percent each. Petrom closed 2.86% down to 0.51 lei in 1.2 million lei turnover, while Rompetrol Rafinare shed 2.68% to 0.109 lei in 1.2 million lei turnover.
"I expect further falls, not significant, by some 10%. The recovery is seen coming sometime in October," the broker said.
"So far investors have not exited as massively as they had entered. The transaction with [real estate developer] Impact last week was a good example that still there is money entering our market."
Last week Impact's director Ioan Dan Popp sold 3.09% of the company to LBREP III IMP, a subsidiary of U.S. Lehman Brothers Real Estate Partners, for 32.4 million lei.
Car parts maker Compa lost 13.29% to 1.5 lei in one million lei turnover, following a capital hike through a bonus issue. It raised its share capital by seven million lei to 21.9 million lei.
There was one block deal with 500,000 shares of drug maker Zentiva S.A., worth 800,000 lei. Zentiva S.A. stock traded at 1.56 lei, down 3.7%, in 109,000 lei turnover.
No futures contracts traded on the BVB on Tuesday. The BVB launched futures contracts on its BET index on September 14.
The Rasdaq-C, the composite index of the RASDAQ over-the-counter market, fell 0.33% to 5,238.30 points. Turnover on the RASDAQ rose to 8.6 million lei from 7.1 million lei on Monday.
Romanian oil and gas drilling and construction company Dafora was the most traded stock on the RASDAQ, ending down 1.75% to 0.56 lei in turnover of 826,000 lei.
(1 euro = 3.3904 Romanian lei)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options