Last week, the Belex15 index, representing the most liquid shares on the Belgrade Stock Exchange, experienced a decline of 0.9 percent, settling at 996.2 points, as reported by Momentum Securities brokerage today. Despite the short holiday week, trading activity remained subdued, with a total turnover of only 131.5 million dinars, equivalent to 1.1 million euros.
Messer Tehnogas shares continued their downward trend, dropping by 3.6 percent last week to 24,102 dinars, with a modest turnover of 3.6 million dinars. Despite this, the company reported record business results for the previous year, with net profit soaring by 55.3 percent to 3.6 billion dinars, despite facing significant increases in electricity costs.
On the other hand, the share price of Oil Industry of Serbia (NIS) saw a modest increase of 1.3 percent during the week, reaching 873 dinars, albeit with a low turnover of 2.7 million dinars. Momentum Securities noted that investors seemed unfazed by the company’s modest first-quarter profit, especially considering the absence of significant sales activity.
Meanwhile, Dunav Osiguranje witnessed a further decline in its share price, dropping by an additional 1.7 percent last week to 963 dinars, with trading activity remaining weak at 0.8 million dinars. The decline in price followed the security reaching 1,100 dinars prior to the dividend date, after which a downward trend ensued.
In addition to Tehnogas and Dunav, Metalac also joined the list of losers last week, with its share price decreasing by 1.7 percent to 1,750 dinars, accompanied by minimal trading volume. Metalac’s management has scheduled a Shareholders’ Meeting, proposing a dividend of 90 dinars per share, translating to a dividend yield of 5.1 percent based on the latest price.
