Contrarian to major global markets, BELEX was bullish oriented, over the last five trading days, with EBELX15 up 0.5%, while broad BELEXline added 2.5%. The most traded names were NIS and Tehnogas. NIS scheduled its annual GA for 27th June and this will be related to dividend record day.
Metalac (MTLC) finally delivered its FY 2018 consolidated numbers, even though it previously reported non –consolidated 1Q19 figures. As reported, the company’ sales in 2018 were up 5.9% y/y, while net profit was reduced by 7% y/y, mainly on slightly reduced operating profit and worse other&financial result. The stock was flat w/w.
As it was already expected, the Ministry of Finance has opened a public call for the collection of statements of interest in participating in the sale of shares of Komercijalna Banka. The deadline for the submission of statements of interest is June 21, 2019. The stock saw only symbolic weekly gain.
From the macro side, Serbia's GDP saw a 2.5% y/y growth in real terms in Q1 2019, the national statistical office RZS said Friday. According to seasonally adjusted GDP data, gross domestic product increased by 0.3 pct in the first quarter of 2019, compared to the previous quarter.