Top banks in the US and Europe posted sharp decreases as investor confidence dwindled under the omen of soured international sentiment, after the American government showed doubt in the strength of European banks’ US units.
As a result, the European markets were losing up to 5% at Bucharest closing bell, while Wall Street opened down 3%.
The Bucharest Stock Exchange’s main index BET closed down 3.5% to 4,591.73, while the composite index BET-C fell 3.5%, to 2,796.6.
BET-FI, the index tracking the five regional investment funds, or SIFs, as well as investment fund Fondul Proprietatea (FP.RO), recoiled 4.6%, to 17,695.18, as SIFs were hardly hit by the foreign turmoil. Proprietatea shares fell just 2.56%, to 0.47 lei (EUR0.108), but the SIFs dropped 5.6% on average.
SIF Oltenia (SIF5.RO) shares ended down 6.2% on the day, at RON1, while SIF Transilvania (SIF3.RO) dove 6.9%, to RON0.414.
Wider blue-chip index BET-XT dropped 4.1%, to 413.43, while the index tracking energy companies, BET-NG, fell 3.2%, to 638.05.
Trades unfolded on the Bucharest Stock Exchange Thursday amounted to RON48.83 million, with RON21.23 million coming from trades in the Proprietatea fund.
Other popular stock Thursday included BRD-Groupe Societe Generale (BRD.RO), which dropped 5.1% to RON11.1, OMV Petrom (SNP.RO), which fell 3% to RON0.3093 and Banca Transilvania (TLV.RO), which declined 3.8% to RON1.06.
There were only four gainers on stock exchange Thursday. Romcarbon (ROCE.RO) inched up 0.05%, New Europe Property Investments Plc. (NEP.RO) rose 0.73%, Vae Apcarom (APC.RO) gained 1.54%, while Zimtub (ZIM.RO) jumped 15%. (EUR1=RON4.2567)