Weekly trade turnover at Serbian BELEX remains very low, with only EUR 588ths. Nearly half of this was generated by Komercijana Banka and NIS. BELEX15 was up 0.43% w/w, while BELEXline added symbolic 0.14% w/w. Komercijana was the first among more important names with 3Q/9M numbers reported – the bank’s 9M net profit was up 8.5% y/y due to positive effects of revaluation for some financial placements, while core business saw only low single digit growth rates. However, at the moment this is of less importance, while major focus remains privatization outcome. NIS should announce its 3Q numbers soon.
From the macro side we had so many reports, as usually at the end of each month. GDP is preliminary expected to see 4.7% growth rate in 3Q, while industrial output in September was up 1.6% y/y. Retail trade turnover saw 7.7% y/y growth in September as well, while trade deficit was expanded as import still rises faster vs. export.