Romania's stock market closes with severe corrections, as banks and financial companies top losses
NewsIn - 20 Februarie 2009
The Bucharest Stock Exchange (BSE) ended today's session with significant drops for the banking stocks and for the five financial companies known as SIFs, which generated the most deals on the market.
Liquidity shrank 19 percent to 11.54 million lei (2.71 million euros) from 14.33 million lei in the previous session.
The BET index of the ten best companies on BSE dipped 3.43 percent to 1,994.47 and the BET-C composite index assessing all listed shares without financial companies lowered 3.18 percent to 1,320.10.
The BET-FI index assessing the evolution of the five financial companies or SIFs plunged 7.92 percent to 8,260.95, a level last reached at the beginning of January 2004, and the ROTX index for trading blue-chips in Vienna sank 4.58 percent to 3,685.43.
The BET-XT index assessing the 25 most liquid companies on the bourse fell 4.93 percent to 183.54 and the BET-NG index reflecting the evolution of the ten power companies slipped 1.46 percent to 308.76.
Stock markets in Europe posted significant drops at closing hour in Bucharest, with the FTSE index in London going down 3.08 percent to 3,894.51, the DAX index in Frankfurt slipping 4.14 percent to 4,040.89 and the CAC40 index in Paris easing 3.41 percent to 2,774.71.
Second Romanian lender by assets BRD SocGen (BRD) was the most liquid stock today, generating deals of 3.94 million lei, and crashed 9.87 percent to 4.20 lei.
Financial company SIF Muntenia (SIF4) depreciated 6.67 percent to 0.42 lei, SIF Banat-Crisana (SIF1) plummeted 9.3 percent to 0.39 lei, SIF Transilvania (SIF3) crashed 9.26 percent to 0.196 lei, SIF Moldova (SIF2) sank 8.64 percent to 0.296 lei and SIF Oltenia (SIF5) lost 6.51 percent to 0.359 lei.
Lender Banca Transilvania (TLV) fell 7.1 percent to 0.72 lei and largest oil company Petrom (SNP) remained at 0.15 lei.
Electricity transporter Transelectrica (TEL) inched 1.12 percent to 9 lei.
Sursa: http://www.newsin.ro
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