The Bucharest bourse’s BET index fell 4.2% to 4,816.1, as political parties in Greece reached a deadlock in trying to form a governing coalition. Investors are afraid the austerity measures backed by previous government will not gain the support of the future executive and the country will exit the euro-zone.
Composite index BET-C closed down 4.1% on the day, at 2,709.28, and investment fund tracker BET-FI dropped 4.15% to 22,039.52.
Fondul Proprietatea (FP.RO) fell 4.6%, and SIF Transilvania (SIF3.RO) closed down 4.7%. SIF Banat-Crisana (SIF1.RO) posted the smallest decrease among the five regional investment funds, of 2.1%.
BET-NG, which tracks the energy and utility stocks, posted a whopping 5.8% fall, as both OMV Petrom (SNP.RO) and Transelectrica (TEL.RO) registered 5.8% drops. Transgaz (TGN.RO) closed down 6.7%, while Dafora (DAFR.RO) posted the largest decrease among Bucharest stocks Monday, of 12.2%.
Among the bank stocks, Banca Transilvania (TLV.RO) lost 4.2%, but BRD-SocGen (BRD.RO) closed down just 1.3%.
However, the trading session was not a very agitated one, with the total turnover amounting to 44.6 million lei (EUR10 million). Out of the total, share transactions cumulated RON40.6 million, with Fondul Proprietatea and SIF Transilvania accounting for some 60%. (EUR1=RON4.4373)