Romanian stocks advance at rising bell after the U.S. market recovered on Fed’s decision

Romanian stocks at the Bucharest Stock Exchange (BSE) rose 1.2 percent this morning influenced by growth on the U.S. market after the Federal Reserve reduced the key interest rate with 0.75 percentage points, below analysts’ estimates.

Deals stood at 7.3 million lei after the first half hour of trading.

The Dow Jones (DJIA) composite index climbed 3.51 percent and the S&P 500 index measuring the best 500 companies on the market increased 4.24 percent, following a cut of the yearly key interest rate from 3 percent to 2.25 percent, despite analysts’ estimates of 2 percent.

The BET index of the ten top companies on BSE gained 1.2 percent to 7,432.65 and the BET-C composite index assessing all listed shares minus investment funds advanced 1.32 percent to 5,226.03.

The BET-FI index of the five financial companies SIFs climbed 1.17 percent to 57,176.02 and the ROTX index for trading blue chips in Vienna grew 1.2 percent to 16,424.43.

SIF Oltenia (SIF5) rose 0.98 percent to 3.08 lei, generating most of the deals this morning, worth 1.75 million lei, followed by SIF Banat-Crisana (SIF1) which climbed 0.75 percent to 2.69 lei.

SIF Moldova (SIF2) advanced 1.17 percent to 2.59 lei, SIF Muntenia (SIF4) increased 1.75 percent to 1.74 lei and SIF Transilvania (SIF3) gained 1.23 percent to 1.65 lei.

Banca Transilvania (TLV), the fifth lender by assets in the country, rose 0.65 percent to 0.775 lei, BRD SocGen (BRD), the second bank by assets, climbed 1.5 percent to 20.30 lei. Erste Bank (EBS), the majority owner of the country’s largest bank by assets, advanced 2.88 percent to 139.30 lei.

Petrom (SNP), the biggest company in Romania, rose 2.09 percent to 0.44 lei and oil refiner Rompetrol Rafinare Constanta (RRC) increased 2.03 percent to 0.0806 lei.

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