FIC stocks ignore bad news from Dubai, move 1.5% higher

On Monday, the Bucharest Stock Exchange traded around 14.38 million lei (€3.36 million), down 37% from Friday’s close of 23 million lei.

BET index that gauges the performance of the ten most liquid stocks at the BSE ended 0.49% to 4,841.58 points, while the composite BET-C dropped 0.02% to 2,781.45.

BET-FI index of the five financial investment companies (BSE:SIF) gained 1.45% to 23,700.17 points, while Vienna Stock Exchange’s ROTX remained at 10,026.26points.

BET-XT index that measures the performance of the 25 most liquid shares moved 0.72% higher to 472.25, and BET-NG of the energy companies listed at BSE closed up 0.09% to 604.81points.

European stock markets showed modest gains at the BSE’s closing hour, as fears related to Dubai’s debt default persisted throughout the trading session, leading to a financial stocks sell-off spree.

FTSE index of leading 100 shares fell 0.83% to 5,202 points while Germany’s DAX edged down 1.14% to 5,627. Paris’ CAC40 was falling 1.06% to 3,682points.

FIC Oltenia (BSE:SIF5) has led the most traded stock chart today, with shares worth 3.79 million lei changing hands, pushing prices up 1.6% to 1.27 lei, followed by FIC Moldova (BSE:FIC2) with a 2.75% growth to 1.12 lei, and a liquidity of 2.31million lei.

In financial sector, Erste Bank (BSE:EBS) shares closed down 2.67% to 116.70 lei, after shares worth 3.46million lei changed hands. BRD SocGen stocks were steady at 13.50lei, in a liquidity of 1.5million lei. Banca Transilvania continued its uptrend and touched a new high of 2.26lei, 2.26% growth in a modest liquidity of 514,975lei.

Transactions with Transgaz Medias (BSE:TGN) totaled 332,600, as shares stood at 159lei, and Dafora Medias (BSE:DAFR) at 0.10lei in a liquidity of 194,300lei.