Growth Triggers Opening of Futures Deals

On the Sibex market, the end of last week came in a fairly optimistic tone, with shares derivatives on an upward trend. Positive fluctuations logged during the day were quite significant, favouring investors with buy positions, who either minimized some of their losses, or even made some profit from overnight speculations. Liquidity was good, reaching as high as 10,612 contracts (10,599 futures and 12 option). The overall number of transactions was 1,880, with a total value of 7.11 million. The positive effects of the good trend led to an increase in the number of open positions by 2,882 to a total of 46,600.

Of the available symbols, DESIF5 was once again much more attractive than the others, with only DESIF2 generating comparable interest. DESIF5 generated 5300 points for all available due dates. Most of them were contracted for due dates in December. For this due date, DESIF5 opened at 0.63 RON/share, peaked at 0.645 RON/share and set the days" low at 0.6101 RON.

The closing transactions set a quotation of 0.624 RON/share, up by 3.79 fractions of a leu compared to the previous level. DESIF5 was quoted at 0.65 RON/share for March 2009, up by 3.2 fractions of a leu. The transactions for the most remote due dates set quotations of 0.695 RON/share and 0.765 RON/share. Positive fluctuations were recorded for June (3.5 fractions of a leu) and for September (1.5 fractions of a leu). The volume of placements on DESIF2 increased by 4782.

December was the due date that attracted most contracts, with the quotation fluctuating between a low of 0.515 RON/share and peak of 0.5684 RON/share. The closing quotation was 0.5511 RON, up by 4.56 fractions of a leu. For the spring of 2009, a DESIF2 shares has been quoted at 0.5701 RON, up by 2.81 fractions of a leu. The quotations for due dates in June and September also increased by 5.22 and, respectively, 5 fractions of a leu, the total being 0.5723 and 0.69 RON.

On the derivatives market, the number of contracts for RON/EUR reached 283, with the European currency being quoted at 3.88 RON for the end of the year, down by 0.1 fractions of a leu. For June 2009, the EURO went down 0.5 fractions of a leu to 1.145 RON. The quotation for March is 4.0539 RON, up by 0.39 fractions of a leu. In the oil sector, DESNP attracted 216 contracts. Due dates in December point to a quotation of 0.1769 RON, up by 1.6 fractions of a leu.

Overall, 48,518 contracts were conclude last week with a total value of 35.9 million RON. DESIF5 was the most liquid ticker with 27,664 contracts, followed by DESIF2 with 17,857 contracts and RON/EUR with some 2000 contracts.