FIC finish trading week down 3.6%

Stocks traded at the Bucharest Stock Exchange suffered a broad-based decline today, led by financial investment companies (BSE:SIF) that plummeted 3.6% as investors preferred to pull their money from the market.

In Friday’s trading session, the liquidity at the Bucharest Stock Exchange increased 60.8% to 24.41 million lei (€5.90 million), compared to Thursday’s 15.19 million lei.

BET index that gauges the performance of the ten most actively traded stocks at BSE shed 1.36% to 5,028.40 points, while composite BET-C dropped 1.16% to 2,940.92 points.

BET-FI index of the five financial companies fell 3.58% to 26,704.14 points, while Vienna’s ROTX declined 1.88% to 10,344.97 points.

BET-XT index of the 25 most traded stocks finished 1.64% down to 501.53 points, while BET-NG of the energy companies closed 0.96% lower to 651.85 points.

European stocks were showing marked declines at BSE’s closing, weighed down by banking stocks after US president Barack Obama laid down plans to reduce risk-taking by banks in an effort to avoid a new global financial crisis.

The proposed rules would reduce risk-taking by banks in their race after big profits. The announcement made by the US president has led to the fall of financial institutions’ stocks and global decline in indices.

At the London Stock Exchange, FTSE index of the leading 100 companies was dropping 0.97% to 5,283.21 points, while Germany’s DAX was declining 0.98% to 5,690.41 points. France’s CAC40 was plunging 1.48% to 3,805.05 points.

FIC Oltenia shares (BSE:SIF5) has been the most traded stocks today with shares worth 8.03 million lei changing hands, and cheapened 3.31% to 1.46 lei. FIC Moldova (BSE:SIF2) decreased 3.82% to 1.26 lei in a liquidity of 3.96 million lei.

In the banking sector, BRD SocGen (BSE:BRD) held steady at 14.20 lei while Banca Transilvania (BSE:TLV) moved 2.3% lower to 2.12 lei.

Transactions with Transgaz Medias (BSE:TGN) totalled 963,300 lei while stock prices were 1.07% lower to 185 lei. Petrom (BSE:SNP) lost 3.23% to 0.27lei/share.

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