Bucharest Stock Exchange main index reaches 11-year high

The main index of the Bucharest Stock Exchange (BVB), BET, reached 8,861 points on Thursday, April 5, its highest level in the last 11 years, according to BVB data. The index, which follows the evolution of the most traded 13 companies on the local market, gained 1.2% on Thursday and 14% since the beginning of this year, local Agerpres reported. The BET’s growth was mainly supported by the strong evolutions of the Banca Transilvania and BRD shares. Both banks reported solid profits last year and announced they would pay dividends. Banca Transilvania’s shares went up by 25% this year while BRD gained 18.6%. The shares of gas producer Romgaz also went up by 21% while oil company OMV Petrom gained 15.9%. Both companies announced significant dividends from last year’s profits. Bucharest Stock Exchange index gains 12.4% in first quarter editor@romania-insider.com