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Croatia’s share indices extend gains thanks to Podravka, Adris
Ljubljana share indices end week up, Telekom Slovenije leads gainers
Sep 18, 2007 17:42 EEST
September 18 (SeeNews) - The four indices of the Bucharest Stock Exchange (BVB) ended lower on Tuesday and are likely to continue on a downward path until the end of the week, brokers said.
The BVB's blue-chip BET index ended 0.66% lower to 9,870.5 points, while the composite BET-C index lost 0.72% to 6,737.27. The BET-FI index, which only tracks Romania's five regionally-defined investment funds, the SIFs, ended 0.39% lower at 80,196.25 points.
The ROTX index of Romania's nine most liquid stocks, a joint index of the BVB and the Vienna Stock Exchange, lost 0.48% to 21,775.47 points.
BVB turnover rose to 30.9 million lei ($12.7 million/9.1 million euro) from Monday's 23.4 million.
"The bourse fell in slightly higher liquidity today. I expect that the indices will register negative developments until the end of this week, as they will continue to follow the trends on international markets," one broker told SeeNews.
The broker also said that investors have been standing aside waiting for Tuesday's meeting of the U.S. Federal Reserve when it is expected to cut its key reference rate to soothe financial market turmoil on global credit concerns.
The U.S. central bank is expected to lower its 5.25% benchmark funds rate by at least 25 basis points. The decision is expected by about 1815 GMT.
Investment fund SIF 2 Moldova was the most traded stock, closing 0.29% lower at 3.46 lei in turnover of 4.2 million lei.
Shares in SIF 5 Oltrenia remained unchanged at 4.3 lei in the second largest turnover of 3.8 million lei. SIF 4 Muntenia came third in terms of turnover, ending down 0.79% to 2.5 lei in turnover of 3.6 million lei.
"The depreciation trend in SIFs will continue in the short-term, as no positive event, which could raise share prices, appears," the broker said.
Blue-chip bank BRD lost 0.37% at 27.1 lei in turnover of 1.4 million lei. Oil group Petrom ended down 0.99% to 0.5 lei in turnover of 1.19 million lei.
Rompetrol Rafinare ended 2.59% lower at 0.113 lei in turnover of 2.27 million lei.
"Iinvestors are cautious over Rompetrol Rafinare after the majority stake in the company was sold and the value of the deal was not disclosed yet," the broker said, adding that trading in the company's shares was likely to remain weak.
Rompetrol Rafinare is the biggest asset of The Rompetrol Group N.V., in which Kazakhstan's KazMunayGas bought a 75% stake for an undisclosed sum last month.
Iinterest in the BET Index Futures instrument that was launched last Friday on the BVB was low on Tuesday. Only one BET futures contract traded in 2,945 lei turnover. The end-December futures ended down 0.1% to 9,950.0 points.
The Rasdaq-C, the composite index of the RASDAQ over-the-counter market, ended 0.67% down to 5,333.71 points. Turnover on the RASDAQ rose to 19.2 million lei from 9.3 million lei on Monday.
Romanian concrete products maker Simcor was the most traded stock on the RASDAQ, gaining 8.02% to 17.5 lei in turnover of 4.6 million lei.
(1 euro =3.3825 Romanian lei)
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