Post by radovic on Feb 5, 2008 16:50:23 GMT -5
Indexes down in market super-sensitive to politics
5 February 2008
After yesterday's huge growth, the Belgrade Stock Exchange (BSE) indexes were down today.
An optimistic start of trading was quickly downturned when news about Prime Minister Vojislav Koštunica's dismissal of a political deal the EU has offered Serbia reached the stock market, Beta reported.
Both the most liquid index BELEX15 and general BELEXline closed in red, dropping 4.17, and two percent respectively.
This is the worst result in the past two and a half months, the BSE officials said.
The turnover was halved compared to yesterday's figures, and ended at some EUR 4mn.
Monday, things were looking up, as the Serbian financial market reacted positively to President Boris Tadiæ's re-election.
The national currency dinar (RSD) gained 1.48 percent , to reach RSD 81.44 for EUR 1.
The National Bank of Serbia (NBS) said in a statement that the stability of the exchange rate depends on how the country's political stability and microeconomic movements are perceived by participants in the financial market.
At the same time, both indexes at the Belgrade Stock Exchange (BSE) rocketed yesterday to their highest value in nine months, with BELEX15 gaining 6.34 percent.
G17 Plus leader and Economy and Regional Development Minister Mlaðan Dinkiæ told Beta news agency yesterday that Tadiæ's victory in had brought security to the financial market of the country.
He also stressed that investors had been "phoning the ministry since early in the day asking for meetings, which proved that optimism regarding Serbia's future economic growth had returned."
The minister further said Serbia should attempt to enter the European Union shoulder to shoulder with Croatia.
"It would be realistic to have that happen by the end of 2011," Dinkiæ said.
"The citizens of Serbia had their say with a massive turnout at the elections and support to Boris Tadiæ. They want a journey to Europe and it is clear that there can be no compromise in the ruling coalition about that," the minister stated.
5 February 2008
After yesterday's huge growth, the Belgrade Stock Exchange (BSE) indexes were down today.
An optimistic start of trading was quickly downturned when news about Prime Minister Vojislav Koštunica's dismissal of a political deal the EU has offered Serbia reached the stock market, Beta reported.
Both the most liquid index BELEX15 and general BELEXline closed in red, dropping 4.17, and two percent respectively.
This is the worst result in the past two and a half months, the BSE officials said.
The turnover was halved compared to yesterday's figures, and ended at some EUR 4mn.
Monday, things were looking up, as the Serbian financial market reacted positively to President Boris Tadiæ's re-election.
The national currency dinar (RSD) gained 1.48 percent , to reach RSD 81.44 for EUR 1.
The National Bank of Serbia (NBS) said in a statement that the stability of the exchange rate depends on how the country's political stability and microeconomic movements are perceived by participants in the financial market.
At the same time, both indexes at the Belgrade Stock Exchange (BSE) rocketed yesterday to their highest value in nine months, with BELEX15 gaining 6.34 percent.
G17 Plus leader and Economy and Regional Development Minister Mlaðan Dinkiæ told Beta news agency yesterday that Tadiæ's victory in had brought security to the financial market of the country.
He also stressed that investors had been "phoning the ministry since early in the day asking for meetings, which proved that optimism regarding Serbia's future economic growth had returned."
The minister further said Serbia should attempt to enter the European Union shoulder to shoulder with Croatia.
"It would be realistic to have that happen by the end of 2011," Dinkiæ said.
"The citizens of Serbia had their say with a massive turnout at the elections and support to Boris Tadiæ. They want a journey to Europe and it is clear that there can be no compromise in the ruling coalition about that," the minister stated.