At around 11:02 local time (GMT0802), the Bucharest bourse’s BET index was up 1.24% from Thursday closing level, while composite index BET-C was up 1%.
The market’s overall traded value reach more than 16 million lei (EUR3.6 million) after the first hour, a value unseen for sessions. Moreover, there were some sessions in the recent weeks, when the turnover didn’t reach that figure during the entire session.
The positive sentiment on the foreign markets was fueled by the latest measures announced by the US’ Federal Reserve. The central bankers said Thursday the Federal Reserve would buy $40 million worth of mortgage-backed bonds every month and keep the interest rates low until at least 2015 to stimulate the economy.
Among the most traded stocks in Bucharest, Fondul Proprietatea (FP.RO) traded up 1.5%, while OMV Petrom (SNP.RO) was up 1.7%. Erste Group Bank (EBS.RO) was gaining 4.24%, lifting the Bucharest benchmark index BET-BK by 1.4%.
The five regional investment funds (SIFs) also posted significant gains, with SIF Transilvania (SIF3.RO) up 2.5% and SIF Oltenia (SIF5.RO) rising 1.9%. BET-FI, which tracks the SIFs and Fondul Proprietatea, was up 1.8%.
The energy sector undeperformed, despite Petrom’s solid increase. BET-NG was up 0.74%, dragged by Transgaz’s 1% decline. (EUR1=RON4.5073)