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Stocks bowed to 4-year lows on external pressures

The BET index of the ten best companies on the bourse slumped 8.61 percent at closing Friday to a level last seen on May 18, 2004, of 2,817.06. The BET-C composite index assessing all listed shares without financial companies went down 8.37 percent to 2,125.42 to October 2004 low.The BET-FI index of the five financial companies SIF crashed 12.82 percent to 11,100.85 to the lowest value since May 2004 and the ROTX index for trading blue-chips in Vienna fell 9.01 percent to 6,500.94.The BET-XT index of the 25 most liquid companies plunged 8.94 percent to 264.75 and the BET-NG index of the ten power companies plummeted 13.24 percent to 340.31.

BET stumbling had the market closed for 45 minutes The BET hit low of 2,786.50 after falling 9.6 percent, without lender Banca Transilvania which was suspended from trading. It the bank had been on the market the real bump would have been 12 percent, the maximum variation limit. Closing down the door on the capital market is a normal procedure, BSE president Stere Farmache told NewsIn earlier today. The bourse stayed locked from 13:41 to 14:25 and then pre-opened for 10 minutes before resuming trading after having received the brokers' approval.

The chute victim, financial companies Some of the five financial companies SIF faced portfolio closings as well, Moldovan said, adding sale orders lacked a price limit on the market which could be an explanation of the past days drops.

Current prices are derisory for most shares from a dividend point of view, he said.

However, buying could turn out a bargain if in large bulks, he added. The second lender by assets BRD SocGen (BRD) was the most traded stock today on deals of 7.60 million lei on a price trim of 8.07 percent to 7.40 lei.Financial company SIF Oltenia (SIF5) slumped 13.22 percent to 0.525 lei on trading worth 4.53 million lei. SIF Moldova (SIF2) cheapened 12.60 percent to 0.437 lei, SIF Muntenia (SIF4) descended 10.48 percent to 0.47 lei, SIF Transilvania (SIF3) plunged 14.86 percent to 0.315 lei and SIF Banat-Crisana (SIF1) plummeted 13.09 percent to 0.478 lei. Oil company Petrom (SNP) reduced 12.94 percent to 0.148 lei and electricity transporter Transelectrica (TEL) slipped 10.16 percent to 11.5 lei.

Oil refiner Rompetrol Rafinare Constanta (RRC) lowered 15.00 percent, the maximum variation limit, to 0.0221 lei and gas operator Transgaz (TGN) lost 14.36 percent to 111.5 lei.

Sursa: http://www.actmedia.ro

Tags: percent sif index financial bet companies brd blue

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