Romania's most liquid companies on the BSE sink over 6%, on mounting fears in the external markets
ACT Media – news agency - 31 Martie 2009
Romania's ten most liquid stocks on the Bucharest Stock Exchange (BSE) crashed in Monday's session on average 6.14 percent, with banking shares leading the way, as investors' fears soar with the potential bankruptcy of auto giant General Motors.
Liquidity shrank more than two-fold to 13.28 million lei (3.13 million euros) from 35.18 million lei in the previous session. "We have witnessed a pretty steep fall, correlated with the external markets, but remains to be seen in the following days whether this is the end of the mini ascending trend. Moreover, the drops are proportionate to the boom of up to 50 percent that some companies had posted," declared for NewsIn Darie Moldovan, stock market agent at Broker Cluj.
The BET index of the ten best companies on the market dropped 6.14 percent to 2,278.44 and the BET-C composite index assessing all listed shares without financial companies lowered 5.26 percent to 1,489.89.The BET-FI index of the five financial companies or SIFs dipped 5.78 percent to 10,281.43 and the ROTX index for trading blue chips in Vienna plunged 8.11 percent to 4,508.74. The BET-XT index of the 25 most liquid stocks fell 6.08 percent to 215.46 and the BET-NG index of the ten power companies on the capital market lost 4.05 percent to 340.12.
Markets in Europe posted significant drops at closing hour in Bucharest, where stocks in the auto and banking sectors were the most severely hit. The FTSE index in London decreased 2.73 percent to 3.806.39 and the DAX index in Frankfurt lowered 3.46 percent to 4,058.29. The CAC40 index in Paris lost 2.76 percent to 2,762.35. Second lender by assets BRD SocGen (BRD) was the most liquid stock today, generating deals of 3.86 million lei, and sank 10.08 percent to 5.80 lei. Lender Banca Transilvania (TLV) plummeted 9.58 percent to 0.7550 lei. Oil company Petrom (SNP) cheapened 3.27 percent to 0.1480 lei.
Financial company SIF Moldova (SIF2) depreciated 7.19 percent to 0.40 lei, SIF Oltenia (SIF5) dropped 5.65 percent to 0.4680 lei and SIF Muntenia (SIF4) slipped 3.76 percent to 0.4610 lei.
Sursa: http://www.actmedia.eu
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