The European Council has convened for a two-day meeting in Brussels to discuss measures to counter debt problems in the region, but investors don’t seem too assured the EU leaders will agree on solutions to solve euro-zone debt issues. Therefore, the major European stock exchanges were losing up to 1.6% in late trade Thursday.
However, the Bucharest market decoupled from the international trend, and the composite index BET-C rose 1.16%, or 28.82 points, to 2,510.23. Blue chip index BET gained 1.02%, or 44.86 points, to 4,431.76.
The BET-FI index, which tracks the five regional investment funds (SIFs) and Fondul Proprietatea (FP.RO) inched up 0.67%, helped by Fondul Proprietatea, with a 1.14% increase to 0.4450 lei (EUR0.1) a share, and SIF Moldova (SIF2.RO), which added 2.07%.
SIF Oltenia (SIF5.RO) lost 0.28%, while SIF Crisana-Banat (SIF1.RO) and SIF Transilvania (SIF3.RO) closed flat on the day.
The extended blue-chip index BET-XT closed 0.92% higher.
Energy stocks tracker BET-NG inched up 0.01%, owing it to OMV Petrom (SNP.RO), which climbed 0.38% to RON0.3715 a share, and to Rompetrol Rafinare (RRC.RO), with a 0.36% rise. Transgaz (TGN.RO) and Transelectrica (TEL.RO) dropped 0.41% and 0.08%, respectively.
The bourse’s overall traded value stood at RON22.7 million (EUR5.1 million), down from RON106.7 million (EUR24 million) on the previous day.
Share transactions amounted to RON17.7 million (EUR4 million), of which RON5.9 million came from a special deal with Fondul Proprietatea shares.
Proprietatea was the top-traded issuer on the main market as well, with transactions worth RON6.8 million. (EUR1=RON4.4508)