SIFs detach from the overall market trend

Izabela Sîrbu (Tradus de Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 8 octombrie 2009

Fears and uncertainty caused by Romania"s political situation are far from over, as yesterday"s decline of the shares of the five SIFs (Financial Investment Companies) proves, since the raising of the maximum allowed stake to 5% depends on the vote of the members of the Parliament.

Nevertheless, the BSE carried forward, closing another good session, with all indexes up, except for financials which declined 4.69%.

"Yesterday"s session saw excessive volatility, and the recent socio-political events have affected the market to an extent, in particular in the case of SIFs", said Nicu Grigoraş, broker at Intercapital Invest.

Turnover was consistent yesterday, just above 34 million lei, with energy and financial stocks being the most actively traded.

"Rompetrol Well Services" posted the largest gain, rising 11.55% to 0.483 lei/share.

The market"s ten largest companies included in the BET index, climbed 2.05%, mostly due to the rise in shares of "Banca Transilvania" (TLV) and "BRD - Groupe Societe Generale" (BRD), which increased 3.8% and 3.33%, respectively.

Shares of "Rompetrol Rafinare" were among the most liquid, with a volume of 41.08 million shares, reaching a price of 0.062 lei/share, almost 3% above Tuesday"s price.

However, after rising several sessions, shares of "Dafora Mediaş" (DAFR) dropped 5.98%, to 0.11 lei, with a turnover of 1.58 million lei.

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