The shares of natural gas transmission company Transgaz Medias(TGN) and those of electricity transmission company TranselectricaBucharest (TEL), the only monopolies listed on the Bucharest StockExchange, have seen the highest growth on the market since thebeginning of the year, a rare occurrence for utility companies'stocks. Transgaz shares have gained 46%, while Transelectrica'shave risen by 37%, whereas the BET index has gone up by 16% sincethe beginning of the year, and SIFs have gained 21% on the average.Both stocks went up by 6 or 7% yesterday as a result of highliquidity. On foreign markets, the shares of utility companiesgenerally have moderate performance, without spectacular moves, andare chosen by investors in times of stock market adjustment fortheir shelter value and predictable results, which leave no roomfor surprises. "Growth prospects for energy shares are quite high,considering the transit projects announced by the government,"explains Ovidiu Serdean, IFB Finwest broker. Utility sector-relatedcompanies such as Dafora and Condmag, specialising in utilityinfrastructure works have posted over 25% increases on the stockmarket since the beginning of the year.
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