Broker Cluj invests 2m euros

Broker Cluj, the only brokerage company that is listed on the Stock Exchange, saw gross profit worth over 0.1 million euros (0.37 million RON) last month, an estimated 3-fold increase against April 2005. The broker”s profit was smaller however than in March due to the Stock Exchange”s trend, which did not allow positions to be sold for profit. However, the brokerage has made investments worth some 2 million euros (7 million RON) on the Stock Exchange, taking advantage of the low prices that some shares had reached. “This year, we have taken on a different strategy: we sold some of the positions for profit when the market was up, in January and February, and we waited for the market to drop to enter it again and improve our average prices. In April we invested some 7 million RON, in SIFs and the BRD, but also in less liquid shares, which were showing a high growth potential,” stated Petru Prunea, chairman of the Board of Directors of Broker Cluj. The value of Broker”s portfolio of shares stood at 14.2 million euros (49.3 million RON) at the end of April, 20% more than at the end of March. ZF