Fondul Proprietatea traded up almost 2.9%, at around 0.67 lei (EUR0.15) per share, close to the all-time high of RON0.675 touched in the day of the listing, January 25, 2011.
The fund’s shares extended their Thursday gains, coming after Wednesday’s announcement of a buyback program that could start in a few days.
Proprietatea almost single-handedly lifted the market indexes, as almost all other major issuers were falling.
At around 10:30 local time (GMT0730), the Bucharest bourse’s BET index was up 0.21% from Thursday closing level, while general index BET-C was gaining 0.4%.
OMV Petrom (SNP.RO) traded down 1%, while BRD-Groupe Societe Generale (BRD.RO) and Transgaz (TGN.RO) were losing 0.8% and 1.5% respectively. Banca Transilvania (TLV.RO) was gaining 0.5%.
BET-FI, which tracks the main investment funds, was up 0.55%, with only Proprietatea in green territory. SIF Banat-Crisana (SIF1.RO) was falling 1.2%, while both SIF Transilvania (SIF3.RO) and SIF Muntenia (SIF4.RO) traded down 0.4%.
Bucharest benchmark index BET-BK inched down 0.07%, while BET-XT was up a mere 0.05%.
Energy stocks tracker BET-NG was down 0.27%, as Petrom and Transgaz declines weighed heavily, despite Rompetrol Rafinare’s (RRC.RO) 3.7% advance.
The bourse’s total traded value was RON3.3 million (EUR0.7 million) at 10:30, with about 90% coming from Proprietatea trades. (EUR1=RON4.3924)