BVB: Quotes plummet, despite measures of tempering investors' panic
AGERPRES - Romanian News Agency - 13 Octombrie 2008
Quotes of shares listed on Bucharest Stock Exchange (BVB) plummeted again, on Friday, despite the measures of the BVB to temper the panic of investors, and stock exchange indexes reached minimums of the last 48 months.
Although no transactions were made on Friday during the usual schedule, the management of the stock exchange made the decision to keep the state of prolonged pre-opening, at 16:30, local, when share transfers could be made, on the basis of sale and purchase orders already introduced in the system, and when closing prices were set, the shares of the five financial investment companies (SIF) saw an average decline of 14.85 percent (BET-FI), continuing the trend in the past few sessions.
'The move of the BVB to keep prolonged pre-opening has been good, it offered brokers a respite to find investors for the share packages put up for sale, but the plummeting of the quotes cannot be avoided, ' an official from a brokerage house told Agerpres.
On the main market of BVB - Regular, transactions were made with shares issued by 46 companies, but only one of them, Teraplast, saw rise in quotes, two stagnated, and 43 went down. Among the shares which went down, there were those of Erste Bank, Carpatica Commercial Bank, Condmag Brasov and Flamingo.
BVB transactions stood at 5.67 million euros (or 21.37 million lei), those of Rasdaq secondary market at 558,602 euros.
The BET index, reflecting the trend in the most liquid ten shares listed, saw a diminution of 9.93 percent, and BET-C index went down 8.88 percent.
The extended blue-chip index BET-XT went down 10.86 percent, and the sectoral index for energy and utilities BET-NG went down 14.15 percent.
The most liquid shares were BRD, Petrom, SIF1 Banat Crisana, SIF3 Transylvania.
Bucharest Stock Exchange was in pre-opening during the entire length of the session on Friday, up to 16:30, sale and purchase orders can be introduced in the system, but without making transactions. The stock exchange has made this decision in the international financial context, with foreign stock exchanges having plunged.
Sursa: http://www.rompress.ro
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