Broker sells Comvex for 1.1m euros

Securities firm SSIF Broker sold a stake in the harbour operator Comvex Constanta for 4 million RON (1.1 million euros) on the RASDAQ on Monday, sources close to the company said. The stake represents 4.4% in Comvex. The Comvex shares made up one of the largest stakes held by Broker. The brokerage company is the most capitalised broker on the Stock Exchange, since it has earned income over recent years from the rise of the stocks it owns and not only from trading fees for deals conducted on behalf of its clients. Comvex shares were gradually bought from the market and Broker”s acquisition helped drive up the price. Comvex”s rise on the RASDAQ was also helped by the better financial results seen this year. The harbour operator made 1.84 million euros in the first four months of the year, 30% more than in the same period last year. It announced earlier in the year that it was expecting to double its profits in 2005 to 3.7 million euros. ZF