The last weekly session was need with modes downwards correction for both BELEX15 and BELEXline, mainly due to drop at Fitofarmacija and Energoprojekt. BELEX15 was down 0.37%, while BELEXline lost 0.49%. In terms of corporate events, the most interesting was probably unofficial info about Komercijana Banka privatization. Namely, as local press speculated, Slovenia’s NLB Bank gave the best offer to buy the majority stake in Komercijana. The Danas newspaper reported that it had learned unofficially that NLB Bank offered 450 million euro for the stake. The stock was up 2.6% w/w, while turnover was very low. The most tared stock on a weekly basis was NIS, with RSD 14.7m in volume.
From the macro side, we had a statement from Finance Minister about July’s GDP growth, which suggested overall annual rate may be lower the previously expected. Serbian economy grew 4.4% in July, while continuation of such trend would result in an annual growth rate of 3% in 2019. Expected GDP growth for this year is at 3.5%, while figures from 6M 2019 showed momentum is slowing down, due to unfavorable macro trends in Germany and some other major external trade partners of Serbia, the statement says.