The shares of the largest oil and gas producer in Southeastern Europe, OMV Petrom (SNP), the most valuable local issuer on the capital market in Bucharest, posted an increase of 7.28 percent, equivalent to a stock market capitalization of RON 15.86 billion (EUR 3.55 billion), zf.ro informs.
“The increase is part of the acclaim wave which seized the oil company lately. The agreement reached between OPEC members and discussions on rallying of other oil producers to freeze the production at 32.5 million barrels/day, strongly supported the positive evolution of SNP quotation,” the source notes.
During the last month, OMV Petrom shares grew by 14 percent after 6,000 transactions have occurred, with an aggregate value of RON 72.6 million.
The stock market in Bucharest begins 2017 in the green after BET, the main index of the Bucharest Stock Exchange (BVB) registered an increase of more than 1 percent in the first trading session of 2017.
The total equity turnover of the BVB rose to RON 29.7 million from RON 16.03 million on Friday, December 30, the last trading day on the BVB in 2016.
However, blue-chip oil and gas group OMV Petrom rose 6.32 percent to RON 0.2775 in the day’s third-largest turnover of RON 5.31 million.