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Sep 10, 2007 17:28 EEST
BELGRADE (Serbia), September 10 (SeeNews) – The share indices of the Belgrade Stock Exchange (BELEX) ended lower on Monday, dragged down by bank stocks, brokers said.
The blue-chip BELEX15 index of the Belgrade bourse went down 0.6% to 2,829.85 points, while the broader BELEXline lost 0.22% to 4,503.61. The joint SRX index of the bourses in Belgrade and Vienna dropped 0.57% to 1,562.37.
“The BELEX15 index ended lower mainly due to the lower volume of trading in bank shares but there is no special reason for this,” Slavko Davidovic, a broker with Confidence brokerage, told SeeNews.
Blue-chip bank Agrobanka, which has the fourth-largest weight among the 15 constituents of BELEX15, lost 7.62%, closing at 30,505 dinars ($544/394 euro) in some nine million dinars of turnover.
The BELEX15 index includes seven banks. AIK Banka, which has the largest weight among the index constituents, shed 0.19% on Monday, closing at 11,304 dinars in 49 million dinars of turnover.
“As a whole, trading volumes were very modest and still impacted by the summer holidays season, and I expect higher volumes next week,” Davidovic said.
Shares in engineering company Telefonkabl rose most, gaining 13.61% to 21,500 dinars. The blue-chip Pupin Telekom followed, closing 7.62% higher at 1,130 dinars.
“These two companies traded best but their volumes were very small and did not have any impact on the indices,” Davidovic said.
Total BELEX turnover rose to 654.8 million dinars on Monday from 372 million dinars on Friday.
Turnovers usually fall on the Belgrade bourse on Fridays and rise on Mondays, brokers say.
(1 euro = 79.8853 Serbian dinars)
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