Belex ends January in the red, Belgrade Airport most traded

The domestic stock market ended January on a downward trend with increased turnover thanks to government bonds. Total weekly turnover amounted to RSD 418.5m (EUR 3.6m), while the Belex15 index fell by 0.3% to 1,128.3 points.

The most active stock was Belgrade Airport (AERO) with turnover of RSD 15.1m, mostly at RSD 2,000 level. The company, which monitors the implementation of the concession process, announced a FY24 net income of RSD 462m compared to RSD 250.2m in the previous year, largely due to the attribution of revenues from the concessionaire’s investment activities.

Shares in Dunav Osiguranje (DNOS) saw slightly more intense trading activity at the end of the month, with a turnover of RSD 8.5m, increasing 1% to RSD 1,376. The company reported “record business results” last week, without providing detailed financial indicators.

Other stocks saw much lower turnover. Priority shares of Philip Morris (DINNPB) rose 4.3% to RSD 9,800 on turnover of RSD 1.6m, while Messer Tehnogas (TGAS) fell 2.8% to RSD 34,007 on turnover of RSD 1.0m. 

The Petroleum Industry of Serbia (NIIS) on Friday announced its financial results, which showed the expected sharp drop in its profitability. In 2024, NIIS posted a consolidated profit of RSD 10.1bn, a decrease of 77%, while without the consolidation of Petrohemija it amounted to RSD 17.7bn.

WEEKLY REPORT, January 27-31, 2025