EBRD approves 6 mln euro loan to N. Macedonia's KAM
Kosovo's annual inflation slows to 2.9% in Nov
Slovenia's Petrol board member resigns
Lidl Bulgaria invests 7.7 mln euro in new store in Plovdiv
Bosnia's City Mall opens retail park in Zvornik
Nov 16, 2007 16:00 EEST
November 16 (SeeNews) - Belgrade Stock Exchange (BELEX) indices finished lower on Friday but brokers said a recovery could be expected at the beginning of next week.
The blue-chip index BELEX15 dropped by 3.38% and closed at 2,447.08 points. The broader BELEXline index fell 2.07% to finish at 4,034.03. The joint SRX index of the bourses in Belgrade and Vienna went down by 3.86% and closed at 1,396.66 points.
Total turnover slightly rose to 267.3 million dinars ($5.0 million/3.4 million euro) from 239.6 million dinars on Thursday.
Blue-chip commercial bank Komercijalna Banka pulled the indices down, although just one of its shares changed hands, a broker with Belgrade Hypo Alpe-Adria-Securities told SeeNews.
Komercijalna Banka stock lost 10.10% and closed at 105,000 dinars.
Austria's Raiffeisen Centrobank (RCB) launched on Thursday coverage of Komercijalna Banka with a "hold" recommendation, setting the target price at 104.23 dinars.
Among other blue chips, cookware manufacturer Metalac shed 13.40% to close at 4,200 dinars.
Another reason for the dull trading on Friday could be the BELEX annual conference, which has occupied both investors and traders, the broker said, adding that he expected that the market would rebounce on Monday.
Other brokers also expect a correction soon, following a recent surge in prices. Stocks have gained some 50% since the beginning of the year.
(1 euro = 77.9927 dinars)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options