BELEX indices ended the week behind little changed. BELEX15 was just below its flat line, while BELEXlien added minor 0.2%. The most traded name was Komercijana, with RSD 40m in volume, but this time we had no specific news about privatization process. The stock lost 1.37% w/w. NIS was also among top traded with RSD 11m in volume. The company’s CEO announced EUR 1.4bn worth CAPEX for the period 2020-2025. The stock was flat w/w. Energoprojekt was a top gainer among blue-chips, since it added 5.3% w/w, while only reasonable positive factor was an announcement about future infrastructure project in the country.
From the macro side, we had a report from Ministry of Finance, which said that Ficth rating agency has increased Serbian credit rating to BB+, citing the stable macro policy and decreasing public debt.