FIC stocks end lower, market shows modest gain

Bucharest Stock Exchange indexes posted a modest gain today, as investors weigh concerns about the political deadlock in Romania, while the uncertainty regarding the increase in equity holding limit at the financial investment companies (BSE:SIF) have pushed BET-FI index down 1.24%.
“Investors still don’t know how to react to the news coming from the political environment, and each works on different assumptions about the formation of a government. This is why some investors have reduced their exposure in this period, because anything can happen”, said Florin Irimin, broker at Intercapital Invest.

“The point is that the stock market needs political stability same as the entire economy, and we still don’t know how this would be possible in January. Apart from that, I don’t expect any major surprises by year end”, the broker added.

In the Tuesday’s trading session, the liquidity of the Bucharest Stock Exchange shrank 86% to 19.74million lei (€4.68million) compared to yesterday’s 140.63 million lei.

BET index that gauges the performance of the ten most liquid stocks at the BSE finished up 0.25% to 4,654.22 points, while the composite BET-C climbed 0.17% to 2,723.27.

BET-FI index of the five financial investment companies (BSE:SIF) closed 1.24% higher to 23,886.17 points, while Vienna Stock Exchange’s ROTX posted a modest gain of 0.02% to 9,793.14 points.

“FIC stocks moved into the red in the second part of the day, probably because the Deputy Chamber didn’t give its decision on the equity holding limit at financial investment companies, and investors still weigh concern about the fact that the political crisis could put off its decision on the limit. Above all, foreign markets are falling into the bear territory”, said Florin Irimin.

BET-XT index that measures the performance of the 25 most liquid shares closed 0.30% lower to 462.44, and BET-NG of the energy companies listed at BSE edged up 1.16% to 580.35points.

European stock markets were showing a marked decline at BSE’s closing led by financials on continued fears over Dubai’s debt problems. At the London Stock Exchange, FTSE index of leading 100 shares was shedding 1.45% to 5,233.82 points while Germany’s DAX suffered a 1.37% decline to 5,705.28. Paris’ CAC40 was falling 1.41% to 3,785.72points.

FIC Oltenia (BSE:SIF5) has once again led the most traded stock chart today, with shares worth 4.63 million lei changing hands, while prices declined 1.55% to 1.27lei. FIC Moldova (BSE:FIC2) moved 1.15% lower, in a liquidity of 3.68 million lei.

In financial sector, BRD SocGen traded steadily around 13.30lei, after shares worth 1.74 million lei changed hands. Banca Transilvania fell 1.4% to 2.12lei, in a liquidity of 1.55 million lei.

Transactions with Rompetrol Rafinare (BSE: RRC) totaled 1.73 million, while stock prices finished 2.19% higher to 0.0566. Petrom gained 1.57% to 0.258 lei, as transactions totaled 373.700 lei.

Despre autor
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