Belgrade Blue-Chip Index Snaps Eight-Day Losing Streak, AIK Banka Paces Turnover

The blue-chip BELEX15 index closed up 0.67% at 477.74 points after plunging some 13% over the previous eight sessions. Since the beginning of the year the global financial crisis has knocked some 79% off the benchmark.

“Nothing interesting happened today,” a local broker told SeeNews. “We are waiting to see who is exiting AIK Banka, which again generated big volumes today.”

The composite BELEX line index gained 0.05% to 1,078.97 points, while the joint SRX index of the bourses in Belgrade and Vienna closed 0.47% lower at 236.87.

Total BELEX turnover slipped to 226 million dinars ($3.6 million/2.6 million euro) from 275 million dinars on Monday, when trading in AIK Banka shares accounted for some 116 million dinars.

Greece's ATEbank is the largest single shareholder in AIK Banka with a 20.3% stake, while the balance is in the hands of smaller shareholders, holding less than 6.0% each, data showed on Tuesday.

On Tuesday, AIK Banka dropped 0.37% to 1,902 dinars in the day's largest turnover of 108 million dinars. Shares in blue-chip household appliance producer Alfa Plam edged up 0.02% to 5,100 dinars in 36 million dinars of turnover, the second highest for the day.

Confectionery maker Bambi Banat recorded the highest price jump among the blue chips on Tuesday, closing 11.41% higher at 7,021 points as 238 shares changed hands.

On Tuesday, losers outnumbered gainers by 29 to 24, while 29 stocks remained unchanged.

(1 euro = 86.4535 Serbian dinars)