Positive momentum at Belgrade Stock Exchange is still intact, with BELEX15 climbing additional 0.47%, while broad BELEXline added 0.82%. This was mainly led by Komercijalna Banka, Belgrade Airport and NIS.
Belgrade Airport (AERO) added 2.1%, while the company finally informed that record date for incoming dividend payment is 31st December, as it was widely expected. The company is about to payout huge one-off dividend on 16th April this year.
Komercijalna (KMBN) was up additional 3.9%, while buying pressure is generated on the back of incoming privatization tender. Tehnogas (TGAS) reported non-consolidated net profit for FY 2018 at RSD 1.8bn, down 11% y/y, due to appearance of write-off items (probably related to older receivables or asset revaluations) and slightly higher tax expenses. The company’ sales arrived at RSD 8.7bn, up 10% y/y, while operating profit was up at the same percentage, with profit margin remaining at high 24%. The stock was down 0.22% w/w.
From the macro side, industrial output in February was up 2.4% y/y, while retail trade turnover was higher by 13.4%, according to the latest update from Serbian Statistical Office.