The Bucharest bourse gained up to 6% in the first hour of trading, after a combined 15% drop in the past three days. The US and Asian markets recovered after deep falls in the previous sessions, following Standard & Poor’s downgrade of the US rating from triple-A to AA+ at the end of last week.
At around 13:46 local time (GMT1046), the Bucharest stock exchange’s composite index BET-C was up 5.2% from Tuesday’s closing value, while the main index BET was gaining 4.9%.
BET-FI, the index tracking Fondul Proprietatea (FP.RO) and the regional investment funds SIFs, was up 4.2%.
The extended blue-chip index BET-XT was gaining 4.8%, while energy stocks tracked BET-NG was up 5.1%.
The bourse’s overall traded value stood at around 48.2 million lei (EUR11.3 million) at around 13:46, lower than at the same time yesterday.
Proprietatea fund, the SIFs and OMV Petrom (SNP.RO) were the most-sought issuers in early trade Wednesday. (EUR1=RON4.262)