Bulgaria’s SOFIX Surprisingly Grows, Its SEE Peers Lose Altitude 27Jun

Published by Valentin Stamov in Blog | Tagged , , , , , , , , , ,

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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.

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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%.

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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.

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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.

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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.

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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.

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