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The BSE continues to sink, following ripple effect prompted by Paulson plan rejection

Investors' panic from today's opening session regarding the American market collapse following the rejection of Paulson plan paved the way to massive losses on the Bucharest Stock Exchange (BSE), of 5.56 percent on the financial companies sector, dealers said. Liquidity doubled to 31.87 million lei (8.54 million euros) today, from 15.25 million lei in the previous session.

The BET index of the ten best companies listed on BSE dipped 3.88 percent to 4,258.04 and the BET-C composite index measuring all listed shares minus financial companies lowered 2.74 percent to 3,235.74.The BET-FI index of the five financial companies known as SIFs fell 5.56 percent to 25,392.00 and the ROTX index for trading blue-chips in Vienna lost 3.88 percent to 10,427.19.The BET-XT index of the 25 most liquid companies plunged 4.41 percent to 445.78 and the BET-NG index of the ten power companies on the market plummeted 3.93 percent to 605.56.

European bourses fall again, following Bush's speech

European shares lost the advance gained during the day after the speech of U.S. president George Bush regarding the rejection of Paulson plan did not calm down investors. Bush said earlier today the American economy depends on a decisive move from the U.S. government to save the financial sector and warned consequences can be "harmful and long lasting" on the contrary. The 700 billion U.S. dollars worth Paulson plan to save the banks was rejected by the House of Representatives, which crashed the American capital markets on September 29. European bourses had a volatile evolution.

The FTSE index in London rose 0.48 percent to 4,841, while the DAX index in Frankfurt lowered 1.14 percent to 5,740. The CAC40 index in Paris slipped 0.36 percent to 3,939. The main index on the U.S. market, the Dow Jones (DJIA) composite index, fell 7 percent on September 29, the highest drop witnessed in one day in history. Stocks in the financial-banking sector were the most liquid today, but also the most affected by drops Financial company SIF Oltenia (SIF5) plunged 7.19 percent to 1.29 lei, on deals of 7.64 million lei and SIF Moldova (SIF2) fell 6.11 percent to 1.23 lei, on deals of 4.73 million lei. SIF Transilvania (SIF3) dipped 5.71 percent to 0.66 lei, SIF Muntenia (SIF4) decreased 3.98 percent to 0.845 lei and SIF Banat-Crisana (SIF1) lost 4.62 percent to 1.24 lei. Second Romanian lender by assets BRD SocGen (BRD) fell 5.04 percent to 11.30 lei and Erste Bank (EBS) listed on the international tier of the BSE plunged 3.99 percent to 132.50 lei, on deals of 1.9 million lei. Broker Cluj (BRK) plummeted 7.94 percent to 0.313 lei.

Oil company Petrom (SNP) dipped 6.76 percent to 0.317 lei and electricity transporter Transelectrica (TEL) fell 3.95 percent to 17 lei. Some 25 futures contracts were concluded, for a total 19,500 lei. Derivatives of SIF Moldova maturing in December posted a 0.07 lei decrease to 1.30 lei and derivatives of SIF Oltenia lowered 0.13 lei to 1.34 lei.

Sursa: http://www.actmedia.ro

Tags: percent index sif bet million companies paulson following rejection financial brd blue

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