Top increases on Stock Exchange in Q1: Shares of small companies take centre stage

In the first three months of this year, increases on the Bucharest Stock Exchange (BSE) have been mainly driven by the less liquid shares, a trend also noticeable for market indices. Whilst on the BET index, of the ten most liquid shares on the market, the appreciation recorded in the first three months of this year amounts to 28%, the rise of the BET-C index, which includes all shares on the BSE, climbed by over 30% against the end of last year. The biggest increase recorded this year was that of Compa Sibiu shares, which almost doubled against 2009, but amid low liquidity, of a little less than one million euros.
"Blue chips drove the market's rebound in 2009, but at the beginning of this year showed the first signs of tiredness, and in the absence of news and events able to keep interest high for these shares, investors started to also consider other shares on the market, that had up until then been in the shadow," said Liviu Avram, trading manager within Piraeus Bank.