“The market is rising because of a lack of negative information. TLV (Banca Transilvania) was the driver of the index increase. The upcoming financial reporting season would lend support to this growth,” says Marcel Murgoci, head of trading with Estinvest.
The main index, BET, closed the Tuesday session at 12,006 points, 0.3% more than in the previous session, which means the main index has gained 22.4% since the beginning of the year. Adding the dividends the BET companies paid, investors got an almost 27% yield, ZF has found from the Bucharest Stock Exchange platform data.
European stock markets on the other hand saw a slight decline on Tuesday – 0.07% for DAX, 0.05% for FTSE100 and 0.23% for CAC.
Out of the 17 stocks in the index, six dropped (BRD by 0.8%, Purcari by 0.6%, Electrica by 0.5%. Transgaz by 0.36%, OMV Petrom by 0.34% and Romgaz by 0.2%), while MedLife saw the highest rise, 2.4%.
“The traded value stood at EUR191 million, higher than this year’s average so far,” Prime Transaction says.
Banca Transilvania has the highest contribution of the entire main market to the daily traded value, RON9.3 milion.
(English version by Loredana Fratila-Cristescu)