Belex up slightly, Airport the most traded stock

The stock market’s minimal oscillations continued last week, recovering by 0.5% after an identical drop the week before. The index of the most liquid shares, Belex15, rose to 1,145.3 points, while the total market turnover, thanks to government bonds, amounted to RSD 1.1bn (EUR 9.4m).

Belgrade Airport (AERO) was the most active stock, decreasing by 0.5% to RSD 1,990 with a turnover of RSD 9.2m. The stock is around 5% below its all-time high of RSD 2,100 posted last year.

Dunav Osiguranje (DNOS) continued its slight upward trend, rising 1.4% to RSD 1,369 on a turnover of RSD 8.1m. This year, the insurer paid a dividend of RSD 51.64 per share, and it would not be surprising if the dividend paid to shareholders were to double next year, judging by the H1 profit.

The Petroleum Industry of Serbia (NIIS) stopped its downward trend and recovered slightly to RSD 778 with a modest turnover of RSD 4.7m. The company completed the corporate bonds issue on Friday and was in the media spotlight over the weekend. Government officials announced possible US sanctions against the company which announced business operations were continuing as normal and that it was “monitoring the current situation and analyzing all possible scenarios”.

After a long time, Fintel Energija (FINT) posted a solid turnover of RSD 7.3m, up 6.4% to RSD 670. This company appeared on the Belgrade Stock Exchange six years ago with an IPO price of RSD 500 but failed to attract significant interest from investors.

WEEKLY REPORT, December 9-13, 2024