Romanian, European exchanges close on sharp falls. Moscow exchange reports negative historic record

Luni, 6 octombrie 2008, 19:27 English | Business

The Bucharest Stock Exchange (BVB) closed the Monday session with serious losses in line with the trend on European exchanges. The sharpest fall on BVB was recorded by the five financial investment societies. Meanwhile, the RTS key index of the Moscow exchange reported an unprecedented fall, while in the US Dow Jones lost over 400 points to below 10,000, the lowest value since August 2004.

In Bucharest, the BVB losses were matched by increasing liquidity, which upped 33% to 25,32 million RON (6.54 million euro). The session opened with falling prices - a trend that reversed only in the afternoon and for as few as 15 minutes. Quotes started losing ground again and kept the trend to closing bell.

The BVB composite index, BET-C, lost 5.38% to 3,111.72 points, as did BET, the index of the most liquid shares, which reached 4,133.77 points. The heaviest loss was recorded by BET-FI, the index of the five financial investment societies, which lost 10.50% to 24,625.03 points.

Meanwhile, in Paris the CAC 40 lost 9.04%, the sharpest one-session drop since 1988, while in Frankfurt Dax lost 7.07%. FTSE 100 lost 7.37% to 4,613.35 in London.

In Moscow, the RTS index recorded its sharpest fall ever in a day that saw the two exchanges in Moscow suspending session following sharp losses for main indexes.

RTS lost 19.10% on closing session.