BELEX Overview 2016
​The year 2016 brought EUR 361m in total trade volume, which is the highest amount since 2009, but only miserable EUR 49m (down 63% y/y) was generated from stocks. This is the lowest level of trading activity for equities over the last 10 years. Lack of attractive growth profiles among domestic blue chips, delisting of Imlek, TOB at AIK Banka and still relatively attractive yield for government notes (given the risk profile), are among reasons for dramatic drop in trade volume in case of stocks.Â
On the other side, after initial drop in January both BELEX15 and BELEXline established an uptrend by the end of the year, thus annual change was plus 11.4% and 13.7%, respectively. However, most of annual jump was seen in 4Q, with Energoprojekt (ENHL), NIS (NIIS) and Tehnogas (TGAS) among top gainers. With Imlek (IMLK) being delisted and AIK Banka (AIKB) exclusion from BELEX15, blue chip basket remained downsized to only 10 companies. Listing of a larger state owned system is not even on a horizon, after unsuccessful privatization of Telekom Srbija. However, the first IPO’s are finally announced for 2017, and this may bring some new materials on the market and eventually increase turnover versus 2016.
Founded in 2000, WISE Broker was one of the pioneers in the evolution of the Serbian financial market. Today, we are one of the leading brokerage institutions in Republic of Serbia.
Broker-dealer company Wise broker a.d. Belgrade has been incorporated in 2000 under the name of Senzal. In 2007, we became a member of KBC Group headquartered in Brussels when we changed our name into BDD KBC Securities a.d. Belgrade. Since July 2011, we have continued our activity as an independent investment company, providing financial services as WISE Broker .
Our team members have consistently taken leading positions in the most prominent investor surveys and provide the full range of investment services including trading, equity sales, market research, equity capital markets and corporate advisory. Strong sales and trading capabilities and global practices provide our clients with institutional and retail brokerage services. Our trading experts work closely with a range of investors from pension funds to hedge funds, providing an unparalleled view on the market. Global reach and sector specialists keep our clients well informed with unique access to information flows and perspectives. Longstanding ties with corporates allow us to offer insight and a high level of exposure to top company managements. We specialize in strategic and financial advice together with capital raising solutions for both private and listed companies. By growing partnerships, and working with these companies at all stages of their development, we’re able to help structure and execute the widest range of corporate finance solutions. WISEBroker equity research department provide insightful, objective and decisive research, designed to enable informed investment decisions. It is our task to understand industry dynamics, companies, their business segments and competitive position as to create valuable investment guidance.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.