All but one of the major blue-chip indices in Southeast Europe (SEE) reported two-week average declines in their value in the period Jun 13 – 24 compared to May 30 – Jun 10. The surprise was Bulgarian Stock Exchange’s SOFIX, which posted the only two-week average rise, of 2.49%. The index is in a downtrend since April 2014 and despite the current uptrend the downward trend is expected to continue due to the Brexit.
Istanbul Stock Exchange’s (ISE) BIST 100 didn’t met the expectations for a recovery, based on historical data, and had a two-week average drop of 1.76%, which neglected the previous subdued growth of 0.14%.
Zagreb Stock Exchange’s (ZSE) CROBEX saw the end of its four consecutive two-week average increases by posting a 1.36% decline. Similarly to the other indices in the region, CROBEX was negatively affected by the Brexit, losing 1.65% on daily basis on Friday.
SBITOP, the Ljubljana Stock Exchange (LJSE) blue-chip index, was also in the red in terms of two-week average change with a fall of 1.27%. SBITOP still can’t recover from the sharp downtrend in August-September 2015 and its average value in Jun 13-24, 2016 is by 8.21% less than in the corresponding period of the previous year.
Bucharest Stock Exchange (BVB)’s BET had a two-week average decline of 0.84% thus continuing its poor performance since the summer of 2015. The index lost 11.23% of its average value in Jun 13-24, 2016 versus a year earlier.
BELEX15, the blue chip index of the Belgrade Stock Exchange (BELEX), had the smallest two-week average decrease among its SEE peers, of 0.17%. The decline is confirming the index’s weak performance since a year ago – it lost 8.71% of its value in Jun 13 – 24, 2016 compared to Jun 13 – 24, 2015.