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Dec 14, 2007 17:24 EEST
BUCHAREST (Romania), December 14 (SeeNews) – All four share indices of the Bucharest Stock Exchange (BVB) made gains, closing the week higher in rising trading volumes, brokers said.
The BVB’s blue-chip BET index rose 1.44% to 9,427.96 points. The composite BET-C index added 1.37% to 6,457.97 points, and the ROTX index of Romania's 11 most liquid stocks, a joint index of the BVB and the Vienna Stock Exchange, gained 1.60% to 20,890.66 points. The BET-FI, which only tracks the SIF investment funds advanced by 1.41% to 80,317.76 points.
"Today’s rise after the two day of losses came to confirm that the trend is upward," one broker told SeeNews. “Ahead of the holidays, investors are in a good disposition but they buy in small volumes," he said, adding that this trend is usually maintained in the first trading days of the new year, only the volumes are then rising.
BVB’s turnover edged down to 54.1 million lei ($22.4 million/15.3 million euro), from 54.8 million on Thursday. BVB's overall traded share volume rose to 35.1 million from 29 million a day earlier. The five SIFs accounted for 62% of the total turnover.
SIF 2 Moldova closed up 0.58% at 3.49 lei in turnover of 8.8 million lei, making it the most heavily traded stock in regular trading. SIF 5 Oltenia ended 2.33% higher at 4.40 lei in the second highest turnover of eight million lei. SIF 1 Banat Crisana was unchanged at 3.57 lei in the third largest turnover of 7.8 million lei.
SIF 3 Transilvania was the biggest gainer among its peers, rising 2.94% to 2.45 lei in 1.8 million lei turnover.
“The SIFs are the most attractive [shares] now but they were also the ones to lose most ground recently,” the broker said. "They are a good option at the current prices."
Banca Transilvania was the most traded blue-chip and gained 2.30% to 0.89 lei in 5.5 million lei of turnover. The other blue-chip bank BRD added 1.98% to 25.8 lei in turnover of 3.2 million lei.
The oil sector also lost ground on Friday. Blue-chip oil and gas group Petrom advanced by 1.63% to 0.50 lei in 709,000 lei turnover, while oil refinery Rompetrol Rafinare closed 0.94% higher at 0.107 lei in turnover of 860,000 lei.
“The Petrom price is a good one right now. It was following a downward trend this year but as the fuel prices are rising, the stock should be profitable at the end of the year,” the broker added.
The IPO of 10% of Transgaz, which closed on December 7, was 28 times oversubscribed, with the total value of placed orders exceeding 6.3 billion lei. Around 60% of the shares in the IPO were offered to investors who placed orders bigger than 500,000 lei, while 40% were offered to investors placing orders of less than 500,000 lei each.
The broker said he expected most of the oversubscription money from the IPO’s smaller tranche to re-enter the market.
Rasdaq-C, the composite index of the over-the-counter market RASDAQ, rose 0.22% at 4,567.79 points. Turnover on the RASDAQ market halved 8.3 million lei.
Romanian Cominco was the most traded stock on the RASDAQ on Friday, closing unchanged at 109.0 lei in turnover of 1.9 million lei.
(1 euro = 3.5275 Romanian lei)
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