Feeble Brexit Effect on SEE’s Major Blue-Chip Indices 11Jul

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

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The Brexit didn’t seem to have much effect on the major blue-chip indices in Southeast Europe (SEE) and most of them reported a two-week rise, although a steep one, in their average value in the period Jun 27 – Jul 8 versus Jun 13 – 24.

The leader in terms of two-week average increase with 0.93% was Istanbul Stock Exchange’s (ISE) BIST 100 blue-chip index. It is still awaiting an uptrend as historical data suggests. In the past one-year period, BIST 100 had three peaks – 83,388 points on Jul 14, 2015, then 83,694 points on Nov 2, 2015 and 86,344     points on Apr 18, 2016. The index is still far away from any of these peaks, closing at just 78,019 points on Friday, Jul 8, 2016.

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SBITOP, the Ljubljana Stock Exchange (LJSE) blue-chip index reported a two week average rise of 0.72% and continues its struggle to overcome its sharp downfall in the late summer of 2015. SBITOP closed on Friday at 677.56 points. For comparison, its one-year peak was 749.58 points, registered on Jul 23, 2015 and the one-year bottom hit 646.68 points on Sep 9, 2015.

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Zagreb Stock Exchange’s (ZSE) CROBEX posted a subdued two-week average growth, of 0.22%. The index seems to return to its uptrend since the beginning of the year after a short downtrend in May to June. CROBEX experienced a tough period between August 2015 and January 2016 when its value dropped to 1,576 points on Jan 18, from 1,818 points on Aug 7.

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Bucharest Stock Exchange (BVB)’s BET posted a two-week average growth of just 0.06% to 6,456 and fell behind its year-ago two week average value of 7,270 points. The index is in an overall downtrend since the summer of 2015 and there are no signs it will manage to recover in the short-term.

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Bulgarian Stock Exchange’s SOFIX was the “hero” in the previous report, being the only one among its SEE counterparts to report a two-week average increase. Now, SOFIX returned to its common performance since the summer of last year and posted a two-week average decline of 0.63%.

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BELEX15, the blue chip index of the Belgrade Stock Exchange (BELEX), occupied the bottom with a two-week average drop of 2.46%. There is no major peak for BELEX since the beginning of the year and its average value of 604.84 points in Jun 27 – Jul 8, was by 5.67% less than that a year ago.

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