Ben Bernanke, Chairman of the US central bank, said Wednesday that Fed may reduce its bond acquisitions depending on the economic outlook. As a result, the US markets fell by about 1.3% and the European markets lost more than 1% in early trade Thursday.
The local market was no exception. At around 10:30 local time (GMT0730), the Bucharest’s BET index was down 0.44% from Wednesday closing level, while composite index BET-C was shedding 0.38%.
Both Transgaz (TGN.RO) and Transelectrica (TEL.RO) were down 1.4%, while OMV Petrom (SNP.RO) was losing 0.6%. Fondul Proprietatea (FP.RO) was flat on the day, while Banca Transilvania (TLV.RO) and BRD (BRD.RO) were each losing 0.2%.
Investment fund tracker BET-FI was losing 0.31%, while energy stocks index BET-NG was down 0.96%.
Bucharest benchmark index BET-BK was down 0.88%.
The traded values were still reduced, of around 1.4 million lei (EUR0.3 million), with just half of the amount coming from share transfers, while structured product transactions accounted for the rest. (EUR1=RON4.4992)