FICs close sharply down amid sell-off

Stocks at the Bucharest Stock Exchange declined further today after disappointing job data sparked a massive sell-off especially of financial investment companies stocks, with BET-FI shedding 2%.

Job report released by US Labor Department indicated an unexpected rise in weekly jobless claims to 496,000. Economists were expecting a decline in jobless claims to 460,000 from revised 473,000 a week earlier.

The liquidity at the Bucharest Stock Exchange soared Tuesday to 54.72 million lei (€13.26 million) after the public takeover offering of Rompetrol Well Services was recorded in the stock market system. The offering was valued at 24.81 million lei, after Rompetrol acquired 20.7% equity from minority shareholders at 0.43 lei/share.

The liquidity of fixed-income instruments stood at 14.59 million lei (€3.53 million), after the transfer of 1,375 state securities.

BET index that gauges the performance of the ten most actively traded stocks at BSE fell 0.53% to 5,317.24 points, while composite BET-C dropped 0.64% to 3,055.01 points.

BET-FI index of the five financial investment companies suffered the steepest decline of 2.17% to 29,432.35 points, while Vienna’s ROTX closed 0.72% down to 10,646.34 points.

BET-XT index of the 25 most traded stocks slumped 1.22% to 529.95 points, and BET-NG of ten energy stocks finished 0.14% down to 710.31 points.

In the Tuesday trade, Rompetrol Rafinare (BSE:RRC) have been the most traded stocks with a liquidity of 5.53 million lei. RRC stock prices moved 0.27% higher to 0.0746 lei but remained below offering level.

FIC Oltenia (BSE:SIF5) dropped 2.45% to 1.59 lei while its peer FIC Moldova (BSE:SIF2) declined 2.10% to 1.40 lei.

Dafora Medias (BSE:DAFR) maintained investors’ interest Tuesday, with 3.23 million lei liquidity, while stock prices plummeted 4.17% to 0.1380 lei.

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