December 23 (SeeNews) - Bucharest shares gained ground on Wednesday after a couple of negative sessions, lifted by the parliament’s approval of the country’s new cabinet, brokers said.
The blue-chip BET index of the Bucharest Stock Exchange, BVB, added 0.21% to 4,661.38 points. The BET-FI index, which tracks the country’s five regional investment funds, the SIFs, gained 1.02% to 23,941.34 points.
The composite BET-C index ended 0.35% up at 2,718.83. The ROTX index of Romania's 15 most liquid stocks, a joint index of the BVB and the Vienna Stock Exchange, edged up 0.26% to 9,648.30.
“The market opened close to yesterday’s closing values and continued in modest volumes, but once the cabinet was approved, which in investors’ eyes means an end to the political crisis, buyers prevailed. The SIFs benefited most,” one broker told SeeNews.
At around 1300 GMT Romania’s parliament endorsed Emil Boc’s new cabinet, effectively putting an end to a two month-old political deadlock that has delayed crucial reforms and the release of the next tranches of international bailout funding. The political crisis set in in October when Boc's minority government fell in a no-confidence vote.
BVB's turnover rose to 77.1 million lei ($26.1 million/18.3 million euro) on Wednesday from 43.7 million lei on Tuesday, including 50.7 million lei worth of government securities. BVB’s total volume of traded shares more than doubled to 71.9 million from 32.6 million in the previous trading session.
Real estate developer Impact Developer & Contractor jumped 5.34% to 0.69 lei in the day's largest turnover of 4.1 million lei. On Monday U.S. Franklin Templeton's division for investments in emerging markets acquired 6.0% of the company for 7.1 million lei from individual investor Dan Ioan Pop. Pop owns 22.07% of the company after the deal.
SIF 5 Oltenia climbed 2.38% to 1.29 lei on deals worth a total of 3.3 million lei, Wednesday’s second highest turnover. Blue-chip oil refinery Rompetrol Rafinare declined 0.5% to 0.0603 lei in the session’s third largest turnover of 2.8 million lei.
Both SIF 1 Banat Crisana and SIF 3 Transilvania closed unchanged at 1.13 lei and 0.68 lei, respectively. SIF 2 Moldova appreciated by 2.7% to 1.14 lei in 2.0 million lei turnover.
Blue-chip bank BRD ended 0.76% higher at 13.3 lei in 1.2 million lei turnover, and blue-chip peer Banca Transilvania ended flat at 2.09 lei in 1.8 million lei turnover. Blue-chip gas transmission company Transgaz advanced by 0.63% to 159 lei in deals worth 618,000 lei.
The BET-XT index, which tracks the 25 most liquid companies on the bourse, including the SIFs, climbed 0.49% at 461.28 points. The BET-NG, which includes companies from the energy sector and utilities, rose 0.39% to 590.95 points.
Rasdaq-C, the composite index of the over-the-counter market RASDAQ, added 0.2% to 2,271.48. Turnover on the RASDAQ fell to 1.5 million lei on Wednesday from 1.8 million lei on Tuesday.
(1 euro = 4.2006 Romanian lei)
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