At around 10:50, the bourse’s composite index BET-C was down 1.15%, while the main index BET was losing 1.31%.
The BET-FI index, which tracks the five regional investment funds SIFs and Fondul Proprietatea (FP.RO), declined 1.55%, while the wider BET-XT index fell 1.3%.
Energy tracker BET-BG was down 1.18%.
Overall trading in Bucharest was RON7.7 million (EUR1.7 million), with RON4.27 million coming from deals with Fondul Proprietatea stock.
Tuesday evening, 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.
However, investors did not immediately react to the news and the fund’s shares were shedding 1.67% on the day to RON0.589 Wednesday morning. (EUR1=RON4.3537)