Romanian stocks recoup at rising bell, financial companies climb 13% after week of losses
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Stocks at the Bucharest Stock Exchange (BSE) recovered significantly this morning, stimulated by the 13 percent growth of the five financial companies SIF after European officials endorsed measures to support the banking system.
Liquidity after the first half hour stood at 3.54 million lei.
The BET index of the ten best companies on BSE added 7.79 percent to 3,436.04 and the BET-C composite index measuring all listed shares minus financial companies rose 7.32 percent to 2,581.38.
The BET-FI index of the five financial companies jumped 12.81 percent to 17,147.97 and the ROTX index for trading blue-chips in Vienna soared 7.46 percent to 8,358.19.
The BET-XT index of the 25 most liquid stocks on the market gained 8.54 percent to 341.18 and the BET-NG index of the ten power companies on BSE increased 10.07 percent to 459.79.
Bourses in Asia increased slightly on opening after record drops last week, but investors remain cautious regarding decisions taken by large economic powers in Europe to stabilize financial markets.
The representatives of the Eurozone countries met in Paris on October 12 to adopt an action plan that comprises a guarantee for interbank loans in order to restabilize confidence on the markets hit by the international crisis.
On the Bucharest bourse financial company SIF Moldova (SIF2) was the most liquid stock at debut with deals of 764,591 lei and the price added 13.24 percent to 0.77 lei. SIF Oltenia (SIF5) advanced 11.25 percent to 0.89 lei.
SIF Transilvania (SIF3) nudged up 13.90 percent to 0.4590 lei, SIF Muntenia (SIF4) gained 11.32 percent to 0.59 lei. SIF Banat-Crisana (SIF1) grew 14.69 percent to 0.82 lei.
The second lender by assets and network in Romania BRD SocGen (BRD) soared 9.46 percent to 8.10 lei.
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