Romanian stocks plummet on closing taken down by a new wave of panic
ACT Media – news agency - 22 Ianuarie 2009
Stocks listed at the Bucharest Stock Exchange (BSE) plunged 4.6 percent yesterday on closing after a new wave of panic hit the market and swept power companies 5.5 percent down. Liquidity reduced 16 percent to 12.55 million lei over 15 million lei Tuesday on closing.
The local market lacks foreign investors willing to sell, Gabriel Aldea, broker with Intercapital Invest told NewsIn. On the other hand, speculators panicked, worried by what is happening on the foreign markets.The BET index of the ten best companies on BSE fell 4.69 percent to 2,476.29 while the BET-C composite measuring all listed shares without financial companies slipped 4.62 percent to 1,653.98.The BET-FI index of the five financial companies SIF dropped 2.90 percent to 12,111.10 and the ROTX index for trading blue chips in Vienna plunged 4.55 percent to 4,935.24.The BET-XT index of the 25 most liquid companies slipped 4.16 percent to 243.04 and the BET-NG index of the ten power companies plummeted 5.54 percent to 347.09.European markets were recovering slightly at the closing hour in Bucharest after plunging to two-month lows on losses reported by large credit companies.The FTSE index in London slipped 0.80 percent to 4,058.67 and the DAX index in Frankfurt added 0.80 percent to 4,058.67 and the CAC40 index in Paris lost 0.21 percent to 2,919.15.The fifth lender by assets Banca Transilvania (TLV) was the most liquid stock today generating deals of 1.98 million lei on a price drop of 2.86 percent to 1.02 lei.
Gas operator Transgaz Medias (TGN) depreciated 7.73 percent to 101.50 lei and oil company Petrom (SNP) fell 5.59 percent to 0.169 lei. The Austrian-based lender Erste Bank (EBS) plunged 4.18 percent to 45.80 lei and the second bank by assets BRD SocGen (BRD) dropped 5.26 percent to 7.20 lei.
Financial company SIF Oltenia (SIF5) decreased 3.60 percent to 0.535 lei, SIF Banat-Crisana (SIF1) cheapened 3.48 percent to 0.555 lei, SIF Moldova (SIF2) slipped 1.58 percent to 0.497 lei and SIF Muntenia (SIF4) dropped 3.39 percent to 0.57 lei.Oil refining company Rompetrol Rafinare Constanta (RRC) lost 4.73 percent to 0.0262 lei.
Sursa: http://www.actmedia.eu
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