Historic day for Bucharest Stock Exchange: BET index gains 11%

The Bucharest Stock Exchange brought investors the biggest all-time one-day gains, with the shares of the top ten listed companies, included in the BET index gaining 11% on average, while SIFs (financial investment companies) rose by over 13%.
Yesterday’s rise comes after a week of dramatic falls, which ended on Friday with massive sales, dragging indexes down 14% compared with the previous week. For stress-resistant investors brave enough to buy on Friday, yesterday’s Stock Exchange rise meant twice as high gains as the one-year bank interest rate.
Few expected yesterday’s booming share prices, when shares such as those of brokerage firm Broker Cluj (BRK) and of Condmag Brasov builder (COMI) rose by over 17%. But all investors were glued to the trading screens of foreign stock exchanges, and joined in the state of excitement of investors on European markets, which in turn saw historic rises. The Paris Stock Exchange gained over 8%, while the Spanish and Italian markets rose by over 10%.
Yesterday’s rebound of the local market came as a result of the overall enthusiasm of the European markets, induced by the 750 billion euro bailout plan devised as support for the euro and announced by the European Union representatives. The bailout plan, similar to the plan implemented in the US after the collapse of the Lehman Brothers investment bank is intended to limit the effects of the crisis started in Greece over the other European countries.