BELEX15 was down 1%, while BELEXline lost 0.56% w/w, mainly due to 6.4% drop we saw at Fitofarmacija. The company has no any specific news about its operations, while this drop was at very low volume of only 5 traded stocks. The most trade name was Jubmes Banka, with RSD 79m in volume, followed by Komercijlana which generated RSD 67.2m. The stock was nearly flat w/w, with no major news over privatization process.
From the corporate side, we had a notification from Energoprojekt which signed new contract in Uganda worth EUR 14.6m, while this is about local roads reconstruction. The stock was up 1.4% w/w, while the company’s plan about volume of contracted jobs in 2019 is probably to be reached. From the macro side, we had industrial output up 0.8% y/y in August, while retail trade turnover increased 10.9% in eight months 2019.