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Financial companies in Romania slump another 8% to a low of the past three and a half years

The five financial companies SIF crashed 8.25 percent today, to a record low of the past three and a half years in the background of possible macroeconomic gaps in Romania and the continuous turmoil on international markets.

Liquidity on the Bucharest Stock Exchange (BSE) rose to 31.96 million lei over 25.33 million lei yesterday. "The market evolved on the same feeling as yesterday, linked to the international markets," Gabriel Necula, broker with Prime Transaction told NewsIn. Moreover, the falls on the Bucharest capital market could have also been generated by the insecurity over some macroeconomic gaps, he said, adding that talks over the teachers' request to have salaries raised 50 percent also had a say.The BET index pointing to the ten best companies on BSE slipped 4.01 percent to 3,968.19 and the BET-C composite index measuring all listed shares without investment funds dropped 4.25 percent to 2,979.56.The BET-FI index of the five financial companies SIF plummeted 8.25 percent to 22,592.73 and the ROTX index for trading blue-chips in Vienna lost 4.69 percent to 9,712.93.The BET-XT index of the 25 most liquid companies on the market fell 5.32 percent to 408.75 and the BET-NG index of the ten power companies reduced 4,41 percent to 563.84.

The market seems to be pending a rebound, Necula said, adding the steep falls of the previous days should be followed by a comeback, which is highly unlikely if negative news on the banking system continues to spread.On the other hand, European bourses grew steadily at the closing hour in Bucharest. The FTSE index in London added 3 percent to 4,726, the CAC40 index in Paris rose 2.52 percent to 3,805 and the main index in Frankfurt, the DAX, gained 0.78 percent to 5,429.

SIF Oltenia (SIF5) remained the most liquid stock, generating deals of 6.47 million lei after the price lowered 9.16 percent to 1.19 lei.SIF Moldova (SIF2) depreciated 10.43 percent to 1.03 lei on deals worth 4.66 million lei. SIF Transilvania (SIF3) plunged 7.14 percent to 0.585 lei, SIF Muntenia (SIF4) cheapened 5.49 percent to 0.775 lei and SIF Banat-Crisana (SIF1) slumped 9.17 percent to 1.09 lei.

Petrom (SNP), the largest oil company in Romania, fell 4.84 percent to 0.295 lei.The second lender by assets and network BRD SocGen (BRD) dropped 8.17 percent to 9.55 lei. Austrian-based lender Erste Bank (EBS) decreased 6.13 percent to 124 lei.Brokerage company SSIF Broker (BRK) grew 1.03 percent to 0.294 lei while electricity transporter Transelectrica (TEL) fell 3.73 percent to 15.50 lei.

Sursa: http://www.actmedia.ro

Tags: percent sif index bet financial companies romania brd blue

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