The last weekly session at BELEX ended in green, while BELEX15 advance was led mainly by Energoprojekt and Jedinstvo Sevojno. Blue-chip index added 1% w/w, while broad BELEXlien was up 1.4%, mainly due to jump at Jubmes Banka, which was the most traded name, with RSD 93m in volume, accounting almost 90% of overall weekly trade turnover at equites.
Komercijlana was also among top traded, with RSD 15m in volume, while its stock price was up only light 0.6% w/w. The bank reported RSD 4.3bn in its 6M19 net profit, up 19.4% y/y, while this is mainly on reduction of impairments of financial assets not recognized at affair value in P&L statement. The bank’s core business grew at a very low rates.
From the macro side, on Thursday NBS decided to reduce key repo rate to 2.5% from 2.75%. The inflation rate is expected to remain in the 1.5%-4.5% target band, which was the main reason for the related move.