Belgrade Shares Extend Gains, Turnover Doubles

“I expect tomorrow to be yet another positive day for the market as it will be December 31," a local broker told SeeNews. BELEX will be open on Wednesday, its last trading day for 2008, and will be closed on Thursday and Friday for the New Year holiday.

The blue-chip BELEX15 index closed up 0.93% at 573.38 points after gaining 5.51% on Monday and surging 12.29% last week. The benchmark, however, is still some 75% below its value from the beginning of 2008 due to global financial woes.

The composite BELEXline index climbed 0.80% to 1,212.30 points following a 3.51% rise on Monday. The joint SRX index of the bourses in Belgrade and Vienna, however, dropped 2.97% to 272.11.

Total BELEX turnover doubled to 287 million dinars ($4.6 million/3.2 million euro) from 124 million dinars on Monday.

Food and beverages producer Swisslion Miloduh plunged 18.62% to 9,950 dinars in 81 million dinars of turnover, the highest for the day. Blue chip Univerzal Banka lost 6.57% to 11,554 dinars in 46 million dinars of turnover, the second highest on Tuesday.

Cookware manufacturer Metalac recorded the highest price surge of 12.24% among the blue chips, closing at 1,697 dinars.

On Tuesday, fallers outnumbered gainers by 32 to 28, while 32 stocks remained unchanged.

(1 euro = 88.7943 dinars)