Bucharest Stock Exchange’s blue-chip index, up 15.7% in four months

The main index of the Bucharest Stock Exchange – BET, which follows the evolution of the top traded 17 companies listed on the local market, gained 15.67% in the first four months of this year.

In April, the BET consolidated above the 11,000 points level, which it passed for the first time at the end of March, without significant gains. The BET’s advance in April was just 1.36%. However, this evolution came after a 9.7% increase in March that took the BET to new all-time highs.

Nine of the BET’s constituents overperformed the index. The top performers were building materials producer Teraplast (TRP), which gained close to 88% in the first four months, boosted by the solid results and special dividends it will distribute from the first-quarter profit generated by the sale of its Steel division.

The shares on state-owned nuclear power producer Nuclearelectrica (SNN) went up by 54% on the back of strong profit and high dividend. Aluminum producer Alro Slatina (ALR) also gained 43% despite the company’s decision not to pay dividends from the 2020 net profit. Wine producer Purcari (WINE) saw its shares up almost 28%, followed by oil company OMV Petrom (SNP) – 25%, and oil pipe operator Conpet (COTE) – 22%. Fondul Proprietatea (FP) also gained close to 20%.

At the other end, the shares of gas pipe operator Transgaz (TGN) and power grid operator Transelectrica (TEL) significantly underperformed the market, with gains of under 5%. Telecom operator