Romanian stock index BET sets new all-time high as it closes above 18,000 points for the first time since launch

The BET has gained approximately 50% over the last 12 months, placing Romania in the top 10 best-performing markets worldwide.

The BET index, which follows the price movements of the most traded 20 companies listed on the Bucharest Stock Exchange, went up by 1.58% on Thursday, June 6, and closed the day at an all-time high of 18,174 points. In the last week, the BET has gained 3.5%.

The positive evolution of Romanian blue-chip stocks was supported by the yearly dividend payments made by some of these companies, which fueled new share purchases by investors. It also came amid positive evolutions in European markets triggered by the European Central Bank’s decision to cut the monetary policy rate for the first time in the last five years.

BRD-Groupe Societe Generale (BRD) was the BET’s top performer on Thursday, closing the day with a 3.13% increase, followed by power grid operator Transelectrica (TEL), with a 3.08% gain. Energy groups OMV Petrom (SNP) and Romgaz (SNG) also recorded increases of 2.6%, while Electrica (EL) and Sphera Franchise Group (SFG) gained 2.5%.

Meanwhile, the shares of power producer Hidroelectrica (H2O) were the most traded on Thursday, with a turnover of RON 27 mln (EUR 5.5 mln), but ended the day down 0.07%.

Over the last week, the shares of Transelectrica have led the blue-chip pack with 13.76% growth, followed by Sphera Franchise Group (+8.24%), and Banca Transilvania (TLV, + 7.22%).

Over the last 12 months, the BET has gained 49.4%, making it one of the top-performing country indices worldwide. By comparison, the S&P 500 is up 25% over the same period and the German DAX is up by about 16%.

(Photo source: BVB)