The Bucharest stocks were gaining up to 2% in the first minutes of trading, but the European markets’ fall–after weaker-than-expected data from the German economy–took a toll on the local bourse, which briefly entered negative territory. The German gross domestic product, the largest in the euro-zone, rose by just 0.1% in the second quarter, while analyst estimates pointed to a 0.5% growth.
At around 11:10 local time (GMT0810), the Bucharest bourse’s general index BET-C was up 0.15% from Friday’s closing level, while the main index BET was up 0.6%.
BET-FI, which tracks Fondul Proprietatea (FP.RO) and the regional investment funds SIFs, was up 0.35%, while the extended blue-chip index BET-XT, which also includes the SIFs, was gaining 0.4%.
The only index in negative territory was BET-NG, which tracks the energy and utility-related stocks. It was losing 0.36% at 11:10 hours, dragged down mainly by Transelectrica (TEL.RO) and Rompetrol Rafinare (RRC.RO).
The bourse’s overall traded value was of some 8.3 million lei (EUR1.9 million) at 11:15.
Proprietatea fund and the SIFs were the most traded issuers, alongside OMV Petrom (SNP.RO) and the bank stocks. (EUR1=RON4.2784)