Dunav supports upward trend of Belex

The domestic stock market continued its upward trend last week, again with modest investment activity. The Belex15 index rose by a further 0.9% to 1,159.5 points, while total turnover on the market amounted to RSD 67.5m (EUR 0.6m).

The most active stock was insurer Dunav Osiguranje (DNOS), which rose by 6.3% to RSD 1,626 with a turnover of RSD 9.2m. This level is the stock’s highest value since April 2022, when the distribution of free shares to workers sharply reduced its valuation. The company is expected to announce its FY24 results and planned dividend distribution soon.

Belgrade Airport (AERO) closed the week at RSD 2,000, with a turnover of RSD 8.0m. For the first time in a long period, there was no significant selling pressure at this psychological limit.

Gornji Milanovac-based Metalac (MTLC) rose slightly to RSD 2,000 with a modest trade of RSD 0.8m. The company announced last year’s operating results of the parent company, which showed that net income almost doubled to RSD 547.6m due to a jump in financial revenues from its subsidiaries.

Last week, the US administration announced its sanctions against the Petroleum Industry of Serbia (NIIS) had been postponed for another month. There is still no information on when the suspension of trading in the company’s shares might end.

WEEKLY REPORT, March 24-28, 2025