ECONOMY FINANCE&BANKING

Best three BET companies contributing 58 pct to index formation

The best three companies included in the composition of the BET index of the Bucharest Stock Exchange (BVB) had a contribution of more than 58 percent of the index formation early this week, according to data released by BVB.

Thus topping the BET index composition reflecting the developments in the 10 best performing companies was Banca Transilvania (21.41 percent); it was followed by Fondul Proprietatea sovereign fund (20.52 percent) and OMV Petrom (16.46 percent). After a June 10 quarterly adjustment, Banca Transilvania has gained 1.42 percentage points, Fondul Proprietatea 0.53 p.p., and OMV 0.45 p.p.

Fourth was BRD (11.07 percent), while Romgaz came in 5th (9.88 percent).

The remaining companies in the BET composition are Electrica, Transgaz, Transelectrica, Nuclearelectrica and BVB.

According to a monthly report, BVB’s July developments followed the ones in the regional exchanges, continuing on a rising trend from June, when it rapidly weathered the impact on the European financial markets of the UK having voted to leave the European Union. The BET Total Return (BET-TR) was also rising in July, having advanced 7.76 percent.

The BET-TR index reflects the developments in the 10 most liquid stocks traded on BVB that make up the BET index and the dividends distributed by the companies to their shareholders. BET advanced 3.89 percent.

Most traded stocks of July 2016 were: Banca Transilvania, Fondul Proprietatea, Romgaz, Electrica and BRD – Groupe Societe Generale, for total trades worth nearly 300 million lei.

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