Tehnogas at highest level since end of 2021, indices slightly up

The past five trading days saw solid turnover on the Belgrade Stock Exchange, primarily thanks to increased trading in government bonds. The total turnover reached RSD 832.7m (EUR 7.1m), while the Belex15 index slightly strengthened to 888 points.

The most active stock was the Petroleum Industry of Serbia (NIIS), with a turnover of RSD 8.3m, ending the week with a slight increase at RSD 720. The stock has suffered increased pressure on the sell side, but at the end of the week, it stabilized around RSD 720, albeit on low turnover.

Shares in Messer Tehnogas (TGAS) continued their upward trend, reaching RSD 16,100 with a turnover of RSD 4.4m. The stock gained 12.2% in a month, and the last time this producer and distributor of technical gases closed higher was at the end of 2021.

Shares in Dunav Osiguranje (DNOS) rose slightly to RSD 983 with a turnover of RSD 4.1m, returning briefly during the week to RSD 1,000. Preferred shares in Philip Morris (DINNPB) rose 1% to RSD 7,468 with a turnover of RSD 1.1m after the company announced an investment of USD 100m in the heated tobacco products factory.

Energoprojekt holding (ENHL) led the losers and returned to levels around RSD 350 on low turnover. The constructor announced H123 consolidated numbers that confirmed the negative business trend and the decline in orders.

WEEKLY REPORT, September 4-8, 2023