The Bucharest bourse was up 6% after the first hour of trading, and managed to stay in green for the whole session, despite losing part of the gains towards closing bell.
The local market lost 15% in the previous three meetings, led down by the negative sentiment on international markets, following the US rating downgrade announced by Standard & Poor’s at the end of last week. However, the sentiment improved on Tuesday and the US markets grew and this pushed higher the Romanian shares, as well as the other foreign markets. But the downtrend returned and the US markets opened down, and the European bourses also turned negative.
The Bucharest bourse’s composite index BET-C managed to end higher, at 2,752.11, up 3.2% on the day, while the blue-chip index BET rose 3.1% to 4,557.7.
The SIFs were, however, hurt by the rising volatility and dropped in the last of the session. Fondul Proprietatea’s (FP.RO) rise of 1.76% could not offset the decline of the five SIFs, ranging between 1.25% and 3.8%, and BET-FI closed down 1.5% to 17,243.35.
Traded values remained high compared with the average of summer days, but they were lower than Tuesday. The bourse’s overall traded value stood at 90.9 million lei (EUR21.3 million), down from RON135.6 million yesterday.
The extended blue-chip index BET-XT rose 1.8%, as it was held back by the SIFs, while BET-NG, which tracks the energy stocks, rose 2.9%.
Proprietatea fund, which closed at RON0.4401 a share, was the most-traded issuer Wednesday, with trades worth RON44.5 million.
SIF Oltenia (SIF5.RO) was the second most-traded stock today, closing down 3.8%, at RON1.02, after trades worth RON6.9 million.
Banca Transilvania (TLV.RO) saw its shares rise 3.5% to RON1.062, while BRD closed at RON11.1 a share, up 3.7% on the day.
OMV Petrom (SNP.RO) shares rose 2.5% to RON0.323, after it reported a 26% annual increase in second-quarter net profit, at RON903 million. (EUR1=RON4.262)