Main shares of Bucharest Stock Exchange significantly down, influenced by evolution of foreign stock
AGERPRES - Romanian News Agency - 23 Octombrie 2008
The main shares listed on the Bucharest Stock Exchange /BVB/ opened on Wednesday on a significantly falling trend, due to the dropping of the foreign stock exchanges in the USA by 2.5-4 percent, and in Japan by 6.8 percent, as well as to the estimations regarding reporting of lower financial results in the 3rd quarter.
The SIF3 Transylvania shares have attracted the highest liquidity in the first 15 minutes of the Wednesday's session, exceeding 390.000 lei, but their price fell by 14.68 percent due to the potential cancellation of the share capital increase.
The SIF4 Muntenia shares went down by 4.96 percent, to 0.575 lei/share and the SIF Oltenia shares (SIF5) depreciated by 5.96 percent, upon resuming the transactions up to 0.71 lei, following exchanges amounting to 134.000 lei, after the company had announced falls for the 3rd quarter, the previous day.
The price of the BRD SocGen (Romanian Bank for Development) shares fell by 4.62 percent, to 8.25 lei/share based on a liquidity of 73.000 lei. The French bank Societe Generale, the main shareholder of BRD, announced on Tuesday that it would receive 1.7 billion euros (2.3 billion dollars) from the French government in order to cope with the financial crisis.
Societe Generale, which was subject to a major fraud last year, had to perform a capital increase of 5 billion euros by a share issue, which regained the confidence of the bank shareholders and customers, but the consolidated results showed the net profit decreased under 900 million euros, in respect to the target of 1.5 billion euros.
The Broker Cluj shares also dropped by 11.65 percent to 0.235 lei/share, with such transactions amounting to 55.000 lei.
Petrom shares have also been subject to major depreciation - 3.5 percent, Azomures - 3.89 percent and Transgaz - 2.52 percent.
Sursa: http://www.rompress.ro
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