Bucharest-listed shares were down 3% to 4% after the first 15 minutes of the session, but later they lost more ground, as the European bourses turned to losses despite opening in green.
At around 12:00 local time (GMT0900), the Bucharest stock exchange’s composite index BET-C was down 10.5% from Monday’s closing value, while the main index BET was down 10.7%.
BET-FI, which tracks Fondul Proprietatea (FP.RO) and the five regional investment funds SIFs, was losing 12.5%.
The extended blue-chip index BET-XT was down 11.3%, with a similar decline posted by energy stocks tracker BET-NG.
The bourse’s overall traded value reached 67.4 million lei (EUR15.9 million) at 12:00.
Proprietatea fund and the SIFs were the most traded stocks after the first two hours of trading, followed by OMV Petrom (SNP.RO) and the bank shares. (EUR1=RON4.2442)