The week behind accounted only two trading days due to extended holiday season, with BELEX15 down 0.42%. However, this time corporate news flow was pretty frequent.
NIS (NIIS) reported very small net profit for 1Q19, mainly due to capital maintenance at Pancevo facility and drop at EBTDA level. This is why the stock lost 2.8% w/w, which was major negative contribution for BELEX15 decline.
Komercijalna also reported lower quarterly net profit, while its net interest income and net F&C income stagnated. The stock was flat w/w. Energoprojekt reported consolidated annual report for 2018, where we could see sharp drop in full year sales, while net profit was actually improved on higher other&financial result.
From the macro side, we had the credit rating agency Fitch Ratings report. It has affirmed Serbia's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at BB, the National Bank of Serbia said on Saturday, adding that the agency said Serbia's outlook is stable.