Financial companies grow 3% on opening on a recovering market dominated by lenders

Romanian financial companies, known as SIFs, rose 3 percent this morning at the Bucharest Stock Exchange, pushing the market up with strong performances from banks listed.

Deals stood at 4.77 million lei (1.30 million euros). The BET index of the top ten listed companies increased 1.68 percent to 7,427.04 and the BET-C composite index measuring all listed shares minus investment funds advanced 1.33 percent to 5,194.49.

The BET-FI index of the five SIFs rose 2.97 percent to 59,822.40 and the ROTX index for trading blue-chips in Vienna climbed 1.61 percent to 16,362.41.

BRD SocGen (BRD), second lender by assets in the country, soared 2.09 percent to 19.50 lei, generating most of the deals on the market worth 1.04 million lei. The second most liquid stock this morning was SIF Muntenia (SIF4) which climbed 2.23 percent to 1.83 lei, on deals of 996.885 lei.

The other SIFs also rose, SIF Moldova (SIF2) to 2.74 lei, SIF Oltenia (SIF5) to 3.36 lei, SIF Banat-Crisana (SIF1) to 2.76 lei and SIF Transilvania (SIF3) to 1.66 lei.

Fifth bank by assets, Banca Transilvania (TLV), climbed 2.07 percent to 0.74 lei. Electricity operator Transelectrica (TEL) gained 1.10 percent to 27.50 lei. Oil company Petrom (SNP) reached 0.4080 lei.

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