Bucharest Stock Exchange plunges to five-year minimum

The Bucharest Stock Exchange (BSE) closed today's session with drops between 6.68 and 9.94 percent, the banking sector being the most affected as BRD SocGen and Erste Bank plummeted massively on significant volumes, following unfavorable external context.

Liquidity hiked 27 percent today to 11.4 million lei (2.65 million euros), from 9 million lei in the previous session, NewsIn informs.

The BET index of the ten best companies on BSE fell 8.59 percent to 1,890.54 and the BET-C composite index assessing all listed shares without financial companies depreciated 7.25 percent to 1,277.03.

The BET-FI index assessing the evolution of the five financial companies known as SIFs declined 8.50 percent to 8,428.09 and the ROTX index for trading blue-chips in Vienna plunged 9.94 percent to 3,575.77.

The BET-XT index assessing the 25 most liquid companies on the bourse sank 8.34 percent to 178.38 and the BET-NG index reflecting the evolution of the ten power companies lost 6.68 percent to 290.91.

European bourses dipped significantly at the closing hour in Bucharest, after banking shares lowered following fears on the effects of recession in Eastern Europe.

The FTSE index in London dropped 2.25 percent to 4.041,64 and the DAX index in Frankfurt went down 2.96 percent to 4.237,29. The CAC40 index in Paris slipped 2.4 percent to 2.891,06.

Second lender by assets BRD SocGen (BRD) was the most liquid stock today with deals of 1.67 million lei and plunged 13.22 percent to 4.2 lei.

Fifth bank by assets Banca Transilvania (TLV) decreased 9.4 percent to 0.675 lei and Austrian lender Erste Bank (EBS) slumped 14.91 percent to 33.10 lei.

Financial company SIF Muntenia (SIF4) tumbled 8.57 percent to 0.416 lei, SIF Banat-Crisana (SIF1) depreciated 6.76 percent to 0.414 lei, SIF Oltenia (SIF5) cheapened 7.69 percent to 0.36 lei, SIF Transilvania (SIF3) lost 9.38 percent to 0.203 lei and SIF Moldova (SIF2) eased 10.56 percent to 0.305 lei.

Deals with shares of Impact Bucuresti (IMP) totaled 665,000 lei and plummeted 14.38 percent and fertilizer producer Azomures (AZO) decreased 14.74 percent to 0.162 lei.

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