Serbian share indices gain more ground

The blue-chip BELEX15 index of the Belgrade Stock Exchange rose 1.71% to 464.71 points after adding 0.67% on Monday.

The broader BELEXline was up 1.12% to 902.12 points after advancing by 0.39% in the previous trading session.

The joint SRX index of the bourses in Belgrade and Vienna climbed 1.10% in euro terms to 146.66 points after adding 1.07% on Monday.

Total turnover surged to 135 million dinars ($1.5 million/1.2 million euro) from 40 million dinars on Monday.

Lender Komercijalna Banka generated Tuesday’s largest turnover of 80.9 million dinars. The stock closed 0.50% higher at 1,000 dinars.

Fodder producer Veterinarski Zavod Subotica led Tuesday's gainers, adding 19.62% to 500 dinars with 98 shares traded.

"Veterinarski Zavod Subotica surged after Tuesday's takeover bid announcement at a price of 550 dinars," Milos Bijanic, financial analyst at Belgrade-based brokerage Sinteza Invest Group, told SeeNews.

Earlier in the day, local agricultural holding company Victoria Group, which controls 44.2% of Veterinarski Zavod Subotica, placed a buyout offer for 21.7% of the company.

Another lender, Univerzal Banka, paced the decliners, losing 8.82% to 1,230 dinars in a volume of only one share.

(1 euro=112.4956 Serbian dinars)