Page 44 - Ekonomija i Biznis_septemvri 2016.indd

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Source: web-pages of the stock exchanges

annual level it experienced a fall of 2.05 % (on sic stock exchange indicators, one can perceive
31.12.2015 – 644.10 index points, on 15.8.2016 – the movements on the markets, that is, wheth-
630,87 points). er the prices of the traded securities have in-
creased or decreased. However, the markets
The turnover of stock exchanges for securities are also analyzed in terms of
in the first half of 2016 what is the subject of trade on the stock ex-
changes, what instruments are traded, the size
Through the changes of the values of the of the realized turnover, etc.
main stock exchange indices, as one of the ba-

Below is a review of the results from the trade on the stock exchanges in the region (the
Belgrade, Zagreb, Ljubljana and Bulgarian stock exchange) in the first half of 2016. In order to
better perceive the conditions in the other stock exchanges, several data have been presented
about the instruments which are traded in these markets and the number of stock exchange
mediators through which their turnover is realized.

Belgrade stock-exchange – BELEX

There are two segments within theRegulated the turnover of bonds, while the turnover with
market of the Belgrade stock exchange – shares participates with 14.3% or 23.2 million
Listing and an Open Market whereby there are Euros. The most liquid shares are the ones
two sub-segments within the segment Listing: of AIK Banka ad Belgrade, then the shares of
Prime Listing where the shares of 4 issuers Energoprojekt holding a.d. Belgrade and NIS
are listed and 82 bonds issued by the Republic a.d. Novi Sad, which with a total turnover of 14.3
of Serbia and a Standard Listing with 4 listed million Euros participate with 8.8% in the total
companies. The shares of 34 companies are turnover realized on the stock exchange, that
registered in the Open Market. is, with 61.8% in the turnover with shares. At
an annual level, a growth of 18.9% is registered
On the stock exchange in Belgrade in the in Energoprojekt holding a.d. Belgrade, the
first six months of 2016, with more than 35,220 shares of NIS a.d. Novi Sad realized a growth
transactions a total turnover in an amount of 2.5%, while a fall of 4.8% was realized in AIK
of 162.9 million Euros has been realized, of Banka a.d. Belgrade.
which 85.7 % or 139.7 million Euros belong to

Bulgarian stock exchange – BSE

Compared to the three previously analyzed been realized, through 20.237 transactions and
stock exchanges, in the first half of this year, it decreased by approximately 43% compared
the stock exchange in Sofia has significantly to the first half of 2015. In terms of sectors,
less realized turnover. Within the Main Makret, the most traded shares are the ones from the
which includes several subsegments (Segments sector of fianane and insurance activities,
for shares Premium, Standard, Segment for followed by the sectors of manufacturing,
bonds, etc.), a turnover of 56.5 million Euros has structural engineering, etc.

44 September 2016