Serbian share indices gain more ground, turnover surges

The blue-chip BELEX15 index of the Belgrade Stock Exchange rose 0.96% to 481.91 points after adding 0.34% on Tuesday.

The broader BELEXline was up 0.77% to 927.78 points after advancing by 0.32% in the previous trading session.

The joint SRX index of the bourses in Belgrade and Vienna climbed 1.15% in euro terms to 151.54 points after adding 0.46% on Tuesday.

Total turnover jumped to 371.1 million dinars ($4.2 million/3.3 million euro) from 128.5 million dinars on Tuesday.

Oil and gas company NIS generated Tuesday’s largest turnover of 7.7 million dinars, closing 0.28% higher at 720 dinars.

Frozen food producer Frikom led Tuesday's gainers, adding 20% to 6,360 dinars with only three shares changing hands.

Sojaprotein gained 10.02% to 549 dinars in a volume of 8,721 shares.

"Sojaprotein today jumped as it was announced that the company has called an extraordinary assembly where its shareholders may voice their disagreement with a proposed resolution to approve a loan," Milos Bijanic, financial analyst at Belgrade-based brokerage Sinteza Invest Group, told SeeNews. The stock price is expected to rally further, he added.

Earlier on Wednesday, Sojaprotein, part of the local Victoria Group, said it has called an extraordinary meeting of shareholders for December 25 to put to a vote a proposal to provide guarantees for a 50 million euro ($64.5 million) loan for sister company Victoria Logistics as well as a proposal to approve a loan for Victoria Group from the International Finance Corporation.

Radiator manufacturer Radijator paced the decliners, losing 16.67% to 400 dinars in a volume of 473 shares.

(1 euro=112.8015 Serbian dinar)