The Bucharest Stock Exchange brought investors the biggestall-time one-day gains, with the shares of the top ten listedcompanies, included in the BET index gaining 11% on average, whileSIFs (financial investment companies) rose by over 13%.
Yesterday's rise comes after a week of dramatic falls, which endedon Friday with massive sales, dragging indexes down 14% comparedwith the previous week. For stress-resistant investors brave enoughto buy on Friday, yesterday's Stock Exchange rise meant twice ashigh gains as the one-year bank interest rate.
Few expected yesterday's booming share prices, when shares such asthose of brokerage firm Broker Cluj (BRK) and of Condmag Brasovbuilder (COMI) rose by over 17%. But all investors were glued tothe trading screens of foreign stock exchanges, and joined in thestate of excitement of investors on European markets, which in turnsaw historic rises. The Paris Stock Exchange gained over 8%, whilethe Spanish and Italian markets rose by over 10%.
Yesterday's rebound of the local market came as a result of theoverall enthusiasm of the European markets, induced by the 750billion euro bailout plan devised as support for the euro andannounced by the European Union representatives. The bailout plan,similar to the plan implemented in the US after the collapse of theLehman Brothers investment bank is intended to limit the effects ofthe crisis started in Greece over the other European countries.
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