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Romanian Stocks Mostly Fall in Low Liquidity

Dec 19, 2008, 6:08:16 PMArticle by Sabina Kotova
share
December 19 (SeeNews) - The Romanian bourse ended the week in very low liquidity, with most of the shares closing lower, brokers said.

Romanian Stocks Mostly Fall in Low Liquidity

The blue-chip BET index of the Bucharest Stock Exchange, BVB, shed 1.38% to 2,847.86. The BET-FI index, which tracks Romania’s five regional investment funds, the SIFs, inched up 0.16% to 12,456.79 points.

The composite BET-C index closed 2.13% down at 1,952.83. The ROTX index of Romania's 15 most liquid stocks, a joint index of the BVB and the Vienna Stock Exchange, fell 1.73% to 6,352.19.

“There's no clear market trend, everybody stays on the sidelines, and the result is an extremely low liquidity, even speculators cannot speculate in such slim volumes,” one broker told SeeNews.

"Unfortunately, most of the scenarios regarding global and local economy and business developments for next year predict no good, so our bourse is ahead of a tough year," the broker added.

Turnover on BVB increased to 11.5 million lei ($4.1 million/2.9 million euro), including 7.1 million lei worth of bonds and government securities, from 7.7 million lei on Thursday. The number of shares traded fell to 14.8 million from 28.8 million on Thursday.

Blue-chip bank BRD ended 1.23% down at 8.05 lei in the day’s largest turnover of 630,000 lei. Blue-chip oil and gas group Petrom dropped 3.89% to 0.173 lei in the day’s second highest turnover of 604,000 lei. SIF 5 Oltenia added 0.85% to 0.59 lei in the day’s third largest turnover of 486,000 lei.

SIF 2 Moldova lost 2.63% to 0.555 lei in deals worth a total of 366,000 lei, and SIF 3 Transilvania shed 1.13% to 0.263 lei on 298,000 lei turnover. SIF 4 Muntenia rose 1.71% to 0.595 lei in 221,000 lei turnover.

Blue-chip power grid operator Transelectrica depreciated by 2.68% to 10.9 lei in deals worth 274,000 lei.

The BET-XT index, which tracks the 25 most liquid blue-chip companies, including the SIFs, fell 0.95% to 273.41 points. The BET-NG, which includes companies from the energy sector and utilities, lost 1.85% to 336.16.

Rasdaq-C, the composite index of the RASDAQ over-the-counter market, added 0.68% to 2,057.84. Turnover on RASDAQ fell to 2.1 million lei from 7.7 million lei on Thursday, when 480,480 shares of Romanian concrete products maker Somaco, equal to a stake of 6.6%, changed hands for 5.7 million lei in 24 transactions.

(1 euro = 3.9305 Romanian lei)

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