Belex flat in the week on tiny turnover

The domestic stock market experienced stagnation at the beginning of August, with total market turnover amounting to a modest RSD 42.0m (EUR 0.4m), largely due to the absence of major trading in government bonds. The Belex15 index, which tracks the most liquid shares, rose slightly to 1,219.9 points.

The most active stock on the market was insurer Dunav Osiguranje (DNOS), which recorded a turnover of RSD 6.6m, indicating a slight increase to RSD 1,671. The stock surpassed the RSD 1,600 level in mid-July and has remained within the RSD 1,650-1,700 range over the past few weeks.

The Belgrade Airport (AERO) closed the week flatish at RSD 2,200, with a turnover of RSD 2.9m. At the end of July, the company announced that it posted 1H25 net income of RSD 245.4m, which is a record half-year profit for the company since it began monitoring the concession process.

Shares in Metalac (MTLC) increased by 0.5% to RSD 2,066, with a turnover of RSD 1.0m. The company has announced a positive business trend for the majority of its subsidiaries for the first six months of the year. Furthermore, last week it was announced that this year’s dividend of RSD 95 per share will be paid on 12 August.

Regarding stocks not included in the index basket, Goša FOM (GFOM) fell 14.1% to RSD 1,546, following a delayed correction due to the dividend cut in June. The total turnover was RSD 2.3m. Preferred shares of Philip Morris (DINNPB) experienced a slight decline, dropping to RSD 9,200 with a turnover of RSD 1.0m.

WEEKLY REPORT, August 4-8, 2025