Indexes down in market super-sensitive to politics
After yesterday's huge growth, the Belgrade Stock Exchange (BSE) indexes were down today.
Tuesday, 05.02.2008.
10:38
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 Kostunica's dismissal of a political deal the EU has offered Serbia reached the stock market, Beta reported. Indexes down in market super-sensitive to politics 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 Tadic'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 Mladjan Dinkic told Beta news agency yesterday that Tadic'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," Dinkic said. "The citizens of Serbia had their say with a massive turnout at the elections and support to Boris Tadic. 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.
Indexes down in market super-sensitive to politics
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 Tadić'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 Mlađan Dinkić told Beta news agency yesterday that Tadić'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," Dinkić said.
"The citizens of Serbia had their say with a massive turnout at the elections and support to Boris Tadić. 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.
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