BVB rises beyond expectations

Bucharest Stock Exchange (BVB) scored spectacular rises on Thursday, mainly the financial companies, which climbed 5.7 percent above the reference according to BET-FI Index, exceeding the 20,000 points ceiling, Ziarul financiar daily comments.

BET Index, of the most liquid ten companies on the market, advanced more than 2.8 percent on the background of strong appreciation in the banking sector. In the energy sector, the growth was somewhat tempered, BET-NG Index gaining 1.6 percent from the reference.
„Both the domestic and international markets show increases beyond investors’ expectations.

However, if the trend is not confirmed by economy, at macro indicators level, we are to assist to a correction on the capital market, of the same amplitude and speed as the advances”, said Gabriel Necula, deputy manager for operations with intermediary company Prime Transaction, quoted by Ziarul financiar.

SIF Oltenia (SIF5) stock marked the most pronounced advance among the financial companies, of 7.7 percent. It is followed in the top by SIF Moldova (SIF2), up 6.7 percent, SIF Transilvania (SIF3) – 6 percent and SIF Banat-Crisana (SIF1) – 4 percent. SIF Muntenia (SIF4) posted the lowest growth in this category, of just 3.8 percent from the reference.

„SIFs growth is due to some technical reasons, investors making massive acquisitions after BET-FI Index went beyond the 20,000 points support ceiling. As well, results in the banking sector exceeded expectations, pushing up SIFs quotations.

Investors’ expectations on SIFs indicate the following support ceiling at 24,000 points and I think there are chances to see this level hit by this year-end”, added Necula, quoted by the paper.

BRD and Transilvania Bank (TLV) also scored appreciable advances, of 4.7 percent and respectively 4.3 percent.
In the international category the Austrian Erste Bank (EBNS) stock climbed 7.5 percent from the reference.

In the energy sector, Transelectrica (TEL) stock climbed the most – 3.7 percent from the reference, followed in the top by Rompetrol Rafinare (RRC) – 3.4 percent. Petrom (SNP) stock rose a modest 0.4 percent.

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