Concurs Romanian stocks on the Bucharest Stock Exchange recover after 7% slump yesterday

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Romanian stocks listed on the Bucharest Stock Exchange (BSE) advanced 2 percent on opening today after heavy fall yesterday caused by slump on international markets, especially in the U.S.

Deals dropped 43.6 percent to 3.86 million lei (1.04 million euros).

"I have foreseen 2008 will be a very volatile year," Sergiu Ovidiu Pop, board member of BSE, told The Money Channel, adding the market is not going through a crisis, it is just going global and is, therefore, affected by what happens on other international markets.

Markets in the U.S. also recovered yesterday closing with more than 2 percent gains. The BET index of the ten best companies on BSE advanced 2.43 percent to 6,926.77 and the BET-C composite index measuring all listed shares minus investment funds rose 3.11 percent to 4,933.18.

The BET-FI index tracking the five financial companies known as SIFs increased 2.37 percent to 53,616.64 and the ROTX for trading blue-chips in Vienna climbed 2.38 percent to 15,172.47.

SIF Oltenia (SIF5) generated most of the deals on the market of 794,534 lei and gained 2.09 percent to 2.93 lei. SIF Muntenia (SIF4) rose 1.25 percent to 1.62 lei, SIF Banat-Crisana (SIF1) increased 2.47 percent to 2.49 lei, SIF Transilvania (SIF3) gained 2.68 percent to 1.53 lei and SIF Moldova (SIF2) grew 2.51 percent to 2.45 lei.

Fifth lender by assets Banca Transilvania (TLV) climbed 1.82 percent to 0.73 lei and the second lender by assets BRD SocGen (BRD) jumped 4.97 percent to 19 lei.

Brokerage company Broker Cluj (BRK) remained at 1.74 lei. Drug maker Biofarm (BIO) cheapened 0.31 percent to 0.418 lei.

Erste bank (EBS) listed on the international tier, the majority owner of Romania’s largest bank by assets, inched 0.07 percent to 136.20 lei.

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