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Thursday, February 10, 2005

Yesterday stocks crack down

BVB indices yesterday fell to new lows after the IMF requested 1o times higher taxes on capital gains.

The BVB trading session was interrupted yesterday because of technical problems with one of the two electronic trading systems.

Transactions were halted in order to ensure fairness to investors. Trading resumed at 2 p.m., and the session was prolonged an hour after the regular closing time.

The two stock markets' indices yesterday fell by an average of 5 percentage points, continuing Tuesday's downward trend witnessed on suspicions the government will increase capital gains taxes from 1% to 10% beginning in April, as required by the International Monetary Fund (IMF).

The three indices of the Bucharest Stock Exchange (BVB) yesterday recorded another fall, after they dipped Tuesday by an average of 6%, when 50 of the 63 listed companies reported losses.

Thus, the BET index, based on the 10 most liquid listed companies, dropped by 5.59% in mid trading, a gap which increased to 5.64% at closing.
The BET lost 318.17 points going down to 5,325.66 points.
The BET-C index, reflecting the BVB's general trend, dropped by 5.41% in mid trading, but it reduced the handicap at closing when it stood at 3,423.80 points.
The index showing the trend of the five financial investment companies (SIFs) finished the day at 25,611.30, which was 4.03% (1,076.19 points) lower than the previous trading session.

Posted by Iulia Rasoiu : 2/10/2005 10:56:00 am