The Belex15 made biggest weekly gain since September 2009

Imlek and NIS fuelled the rise on the BSE

Last week on the Belgrade Stock Exchange was marked by the announcement of the acquisition of two big dairies which boomed the market capitalisation of leading liquid stocks.

The Netherlands-based FrieslandCampina has signed a Memorandum of Understanding with Salford Capital Partners about the potential acquisition of Imlek and Mlekara Subotica, two biggest milk producers in Serbia. Added to this, leading brokerage company for Eastern Europe, Wood & Co. has unveiled the research report stating that NIS is highly undervalued and estimates the price of the stock at RSD 972. Trading value was heavy RSD 920m, the largest weekly turnover in 2012.
 
The market benchmark, the Belex15 index, soared over the week 10.28% and posted the biggest increase since September 2009. The index was rising all five days but enjoyed the greatest surge on Monday and Friday, 3.81% and 3.18% respectively.

The Petroleum Industry of Serbia, largest company in the market, posted very large gain over the week, especially on Friday’s trading. Last day NIS soared 8.15% posting the biggest daily gain since 19 May 2011. Over the whole week NIS gained 12.65% amid whole week’s trading value of RSD 67.9m, the biggest turnover since 18 November 2011. The stock price ended the week at RSD 650.

Nis-based AIK Banka posted an incredible weekly gain of 18.11% fuelled by the rise on Monday of even 14.24%. The stock price ended at RSD 1,800. Trading value over the week was RSD 21.7m, much lower than a week ago.

Imlek took off by 15.38% amid turnover of RSD 71.6m. The stock price hit all-time high level on Friday by reaching RSD 3,000, but hit 3,099 during the trading session.

Becej-based soybean processor, Sojaprotein, saw heavier trading value of RSD 30.4m amid the whole week price rise of 5.24%. The biggest rise was enjoyed on Monday of almost 9%, while it declined next two days and posted small gains on Thursday and Friday.

Airport Nikola Tesla had slimmer trading value of RSD 8.6m and the price rose 2.41%. Energoprojekt Holding, biggest domestic constructor, posted the largest weekly gain of 20.04% amid trading value of RSD 22.05m.

Komercijlana Banka, state-driven banking institution, saw lighter trading value of RSD 3.2m and the stock price gained only 1.32%. Agrobanka advanced 5.28% and had trading value of RSD 9.3m.

For more, please visit our weekly report and analysis at http://www.sinteza.net/en/weekly-reports.