Leading indices at BELEX stock market ended the week behind with symbolic positive returns, while we had no major corporate events. BELEX15 added only 0.16%, while similar percentage was seen at BELEXline (+0.17%). The most traded name was Komercijana Banka with RSD 39m in volume, while its stock price was up 0.69%. Investors look forward to see final privatization outcome in November. NIS was also among more traded names, with RSD 24m in volume – the company reiterated its intention to participate in privatization process at Petrohemija while no exact intentions were presented.
From the macro side, we had NBS decision to keep interest rate unchanged at 2.5%, while inflation rate for September was at 1.1% on an annual basis (0.5% deflation monthly). It is worth mentioning that World Bank has lowered its forecast for the Western Balkans’ economic growth in 2019 to 3.2% from 3.5% predicted in April. According to the report, economic activity is slowing in the Western Balkans, as investments and exports continue to fade around the region.