The local bourse opened slightly lower but gradually gained thrust and ended on a strong note, overcoming a minor setback some 45 minutes before closing bell, following the announcement of U.S. gross domestic product data. The U.S. economy rose 2.8% in the final quarter of 2011, after a 1.8% growth in the third quarter. However, the increase was lower than analysts’ expectations of 3%.
As a result, European markets were losing up to 1%, while the Dow Jones Industrial Average traded down 0.4%.
However, the Bucharest stock exchange’s BET index gained 1.9%, while the composite index BET-C rose by a similar figure to end at the highest point in three months.
BET-FI, which tracks Fondul Proprietatea (FP.RO) and the five regional investment funds (SIFs), closed up 1.95%, while the extended blue-chip index BET-XT, which includes the investment funds as well, rose 1.86%.
Rompetrol Rafinare (RRC.RO), whose shares rose 6%, and Dafora (DAFR.RO), up 4.5%, fueled a 2.2% increase of the energy stocks tracker BET-NG.
The bourse’s overall traded value was at 43.5 million lei (EUR10 million) Friday, halved from some RON100 million the day before. However, Thursday’s value was heavily influenced by special deals with around 1% of Fondul Proprietatea, for a total of RON65.8 million.
Proprietatea was the top traded issuer on Friday as well, closing at RON0.4906 per share, up 2.2% on the day, after trades worth RON13.1 million on the main market. The fund’s shares were again subject of three special deals, for a total of RON4.35 million, significantly lower than Thursday.
OMV Petrom (SNP.RO) shares rose 1.4% to RON0.33, on a traded value of RON3.6 million, while Banca Transilvania stock closed up 2%, at RON0.975.
SIF Transilvania (SIF3.RO) rose 0.66%, while SIF Muntenia (SIF4.RO) closed up 4.3%. BRD-Groupe Societe Generale (BRD.RO) added 2.8%, while market operator BVB’s (BVB.RO) shares increased 4.5%. (EUR1=RON4.3394)