At around 11:00, the bourse’s composite index BET-C was up 0.8%, while the main index BET was gaining 0.77%.
The BET-FI index, which tracks the five regional investment funds SIFs and Fondul Proprietatea (FP.RO), advanced 1.25%, while the wider BET-XT index was up 0.95%.
Energy tracker BET-BG rose 1.3%, fueled by trading with shares in dominant oil company OMV Petrom (SNP.RO) and drilling company Dafora (DAFR.RO). Petrom’s shares gained 1.2% to RON0.406, while Dafora was up 0.33% at RON0.0605.
Overall trading in Bucharest was RON4.37 million (EUR1 million), with RON1.02 million coming from deals with Fondul Proprietatea stock. The fund’s shares advanced 1.03% to RON0.59.
Tuesday, Fondul Proprietatea announced plans to sell its stakes in electricity supplier Electrica and in several units of international utilities Enel, E.ON and GDF Suez Energy. The fund hired Citigroup Global Markets Limited to assist with the sales, whose total value is estimated at some EUR528 million. (EUR1=RON4.3558)