13 August 2009
Top 10 most actively traded stocks at BSE
Wall-Street presents the top ten most heavily traded stocks by value year to date at Bucharest Stock Exchange, as listed by Intercapital Invest.
10. Rompetrol Rafinare (BSE:RRC )- 71 million lei
Rompetrol Rafinare (BSE:RRC) remains on the red after first half, despite the 30.87-million lei profit in second quarter, while turnover fell by a third year-on-year.
In first half 2008, the company whose main asset is Petromidia oil refinery reported an after-tax profit of 6.69 million lei. This is the first financial report released by the company since Dinu Patriciu sold the remaining 25% equity to KazMunaiGaz.
9. Erste Bank (BSE: EBS) - 96 million lei
Erste Group, the majority shareholder of Romania’s No1 bank booked a net profit after tax and minority interest (PATMI) of 260 million euros, down 19% from a year earlier, but beat analysts forecasts.
Analysts had forecast the bank to run a net profit of 180 million euros in the second quarter, down 43.9% YoY, this representing the median forecast of 13 analysts.
Erste stocks are traded at Bucharest Stock Exchange since February 14 2008, and it has been the most actively traded and liquid stocks since.
8. FIC Muntenia (BSE: SIF4) - 122 million lei
Financial Investment Companies have always been BSE’s most liquid stocks, both in bullish and bearish trends.
The issue of raising the equity holding limit has grabbed most of the headlines lately, and the ongoing uncertainty has led to an increase in trades of FIC stocks.
Mid July, Constitutional Court decided that the equity holding limit at financial investment companies was compliant to the constitution and therefore, the 1% cap remained in force.
The net asset value of FIC Muntenia (BSE: SIF4) climbed 0.42% at the end of June.
7. FIC Banat Crisana (BSE: SIF1) - 127 million lei
The race for SIF Banat Crisana board seats heated up when business heavyweights expressed interest in the vacant positions: Horia Ciorcila – chairman of Banca Transilvania, Doru Lionachescu – director of investment bank Capital Partners, Alexandru Parvulescu – chairman Romenergo, Octavian Radu – owner of RTC Holding and incumbent chairman of FIC 1 – Ioan Cuzman.
After the general meeting, Ioan Cuzman, Emil Cazan, Ion Stancu, Pavel Belean and Zoltan Hosszu were reelected at the board of the company, the “three new faces” being Carmen Dumitrescu, current deputy managing director of the investment company and Horia Ciorcila (photo), chairman of Banca Transilvania, who later on refused to take the positions in the board of directors.
6. FIC Transilvania (BSE: SIF3) - 143 million lei
In the first six month this year, the net asset value of the company (NAV) climbed 0.19%.
5. Petrom (BSE: SNP) - 194 million lei
The falling prices on crude oil and oil products have eroded Petrom’s half-year profit to 923 million lei, down 45% from a year earlier. However, second-quarter results show a significant improvement.
In first half last year, Petrom booked a net profit of 1.66 bilion lei. The company’s performance in first six months reflect tumbling crude prices and dwindling sales of oil and gas, but on the other hand, the company’s profit was largely supported by risk-hedging instruments and by the good performance of the leu against single European currency.
4. Banca Transilvania (BSE: TLV) - 269 million lei
In the past few months, the rumors that a takeover deal was in the works have increased investors’ interest in the issuer.
According to media reports in Greece, National Bank of Greece may be interested in the acquisition of the Romanian bank.
2. FIC Moldova (BSE: SIF2) - 275 million lei
In the first half, the net asset value of FIC Moldova fell 2.5%.
Earlier this month, Network Pres Concept SA requested the initiation of the insolvency procedure against FIC Moldova for defaulting on a 25,619.90 lei debt. The investment company denied the allegations.
2. BRD (BSE:BRD) - 393 million lei
BRD SocGen, Romania’s second largest bank reported an after-tax profit of 425 million lei in first half this year (100.47 million euros), down 17.4% from a year earlier.
The net banking income increased to 1,636 million lei (387 million euros), up 17% from year-ago half, while gross operating profit went up 19.4% from a year earlier, to 919 million lei (217 mn euros).
1. FIC Oltenia (BSE: SIF5) - 403 million lei
At the end of first half, FIC5 reported net asset value up 3.14%, the highest growth of all five financial investment companies listed above.
On Friday, the five FICs are expected to make public their half-year financial results.