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Energy index up on BVB

Publicat la 04.08.2008, 21:00:00

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Energy index up on BVB

Positive forecast on the profit of 's largest company, oil group Petrom, led to a 3.4 percent increase in its quotation.

Titles of national energy transportation company, Transelecrica, state-owned gas transportation energy company Transgaz and oil company Rompetrol Rafinare, which are set to publish financial results next week, were among the top titles with high liquidity.

"Petrom [shares] are still low, compared to our estimates, but, even under these circumstances, Petrom is one of the companies that performed best this year. Prices of Romanian shares are currently showing the lack of foreign investors," according to UniCredit CA IB Securities Romania's Analysis Department head, Adriana Marin.

Also on the stock market, state bonds issued by the Economy and Finance Ministry entered the ring. The state titles issue is expected to attract foreign investors back on the local market and to revive the BVB. A €0.28 million with bonds was closed yesterday, seen as a "pleasant surprise" by the head of the Treasury Department within the ministry, Stefan Nanu.

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