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Nov 09, 2007 17:52 EEST
November 9 (SeeNews) - Romanian stock indices ended mixed on Friday and the market is expected to stabilise next week, brokers said.
"The market is in a difficult period now. Prices are falling for a fifth week now. The appreciations were rather small this week, so I expect that the prices will stabilise next week," one broker told SeeNews.
The broker added that poor nine-month financial results released by several companies, including state-owned power grid operator Transelectrica, have prevented a bourse recovery.
The Bucharest Stock Exchange's (BVB) blue-chip BET index lost 1.33% at 9,321.43 points. The composite BET-C index added 0.22% to 6,496.37 points and the BET-FI, which tracks the country's regionally-defined investment funds, the SIFs, ended 0.03% higher at 73,281.0 points. The ROTX index of Romania's nine most liquid stocks, a joint index of the Bucharest Stock Exchange (BVB) and the Vienna Stock Exchange, fell 1.51% to 20,497.10 points.
"Probably there are some big investors selling SIFs now. The drops in blue-chip banks and oil stocks pushed down the BET index today," the broker said.
"The prices of the shares of the SIFs and [blue-chip banks] Banca Transilvania and BRD are quite good for acquiring the stocks now," the broker said.
Blue-chip oil and gas group Petrom lost 1.96% to 0.5 lei in 2.9 million lei turnover. Blue-chip oil refinery Rompetrol Rafinare dropped 2.83% to 0.103 lei in 682,622 million lei of turnover. BRD lost 1.20% to 24.6 lei in 3.97 million lei turnover.
Stock turnover on the BVB rose to 67.5 million lei ($29 million/20 million euro) from 44 million lei on Thursday. The BVB's overall volume jumped to 288.1 million shares from 40.15 million on Thursday helped by a deal in 252 million shares in Rompetrol Rafinare worth 23 million lei.
The Rompetrol Financial Group, which holds a 14.72% stake in Rompetrol Rafinare, sold its 252 million shares, or 1.2% equity, to a Stichting Administratiekantoor TRG on Friday.
"This deal is nothing spectacular despite its quite big volume. Rompetrol Rafinare makes such deals sometimes," the broker said.
Investment fund SIF 5 Oltenia was the most heavily traded stock in regular trading on the BVB on Friday, closing unchanged at 4.02 lei in turnover of 11.9 million lei. Banca Transilvania dropped 2.34% to 0.835 lei in the second highest turnover of the day of 6.77 million lei. SIF2 Moldova lost 0.3% to 3.29 lei in the day's third largest turnover of 4.95 million lei.
Rasdaq-C, the composite index of the over-the-counter market RASDAQ, went down 0.01% to 4,619.99. Turnover on the RASDAQ market rose to 13.08 million lei from the 11.6 million lei on Thursday.
Beer Azuga brewery was the most traded stock on the RASDAQ on Friday, closing 5.93% higher at 12 lei in turnover of 4.9 million lei.
(1 euro =3.4174 Romanian lei)
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