Bucharest Stock Exchange starts day with investment funds posting losses; European stocks plunge

Bucharest Stock Exchange (BSE) started the day with Romania’s five investment funds known as SIFs tumbling within a stagnating market; European shares dived for a third day in a row.

Opening session deals amounted to 1.76 million lei, down against the 2.17 million lei seen yesterday. In the U.S., the Dow Jones composite index fell 0.39 percent, to 12,527.26. The S&P 500 index measuring the best 500 companies lost 0.81 percent, to 1,354.49. The Nasdaq index decreased 1.13 percent, to 2,322.12.

In Romania, the BET index of the top ten companies won 0.03 percent to 7,193.2 and the BET-C composite index tracking all listed shares minus investment funds rose 0.05 percent to 5,051.21.

The BET-FI index of the five financial companies known as SIFs dropped 0.45 percent to 54,130.39 and the ROTX index for trading blue-chips in Vienna dived 0.35 percent to 16,217.69.

SIF Muntenia (SIF4) dropped 1.2 percent to 1.64 lei. SIF Moldova (SIF2) fell 0.4 percent to 2.46 lei. SIF Oltenia (SIF5) tumbled 1.02 percent to 2.91 lei. SIF Banat-Crisana (SIF1) lost 0.38 percent to 2.64 lei. SIF Transilvania (SIF3) plunged 0.66 percent, to 1.52 lei.

Fifth lender by assets Banca Transilvania (TLV) increased 0.68 percent, to 0.74 lei. The shares of Romania’s second largest lender by assets BRD SocGen (BRD) lowered 0.46 percent, to 21.50 lei.

The Austrian lender Erste Bank, owner of Romania's top lender Banca Comerciala Romana (BCR), saw its shares lose 1.63 percent, to 157.40 lei.

The shares of Romania’s No. 1 oil company Petrom (SNP) plunged 0.23 percent, to 0.435 lei. Transgaz Medias (TGN) slipped 0.53 percent, to 225 lei.

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