The past two weeks were contradictory for the major blue-chip indices in Southeast Europe. Half of them saw their average value growing in comparison to the preceding two weeks, while the other half lost altitude.
BELEX15, the blue-chip index of the Belgrade Stock Exchange (BELEX), is a strong performer since the beginning of the year and achieved the highest two-week average increase, of 4.10%. BELEX15’s one-year maximum value, of 677.60 points, was registered on Oct 31.
Bulgarian Stock Exchange’s SOFIX kept its strong performance in the past several months and experienced a two-week average rise of 3.43%. On Thursday, SOFIX closed at 537.03 points – its one-year peak and the highest value since Dec 15, 2014.
SBITOP, the Ljubljana Stock Exchange (LJSE) blue-chip index, is also in an overall uptrend since the beginning of the year and had the third best two-week average growth, of 2.0%. In annual terms, the increase was 7.2%.
Zagreb Stock Exchange’s (ZSE) CROBEX is also experiencing an overall uptrend in 2016 but its two-week average value declined by 1.12%. However, in comparison to Oct 24 – Nov 4, 2015, there was a rise of 13.4%.
Bucharest Stock Exchange (BVB)’s BET blue-chip index followed in the list of weak performers with an average two-week fall of 1.07%. BET still can’t recover from the sharp drop in the beginning of the year when it reached 6,019 points, its’s lowest value since Oct 28, 2013.
Istanbul Stock Exchange’s (ISE) BIST 100 blue-chip index inched down to an average of 77,992 points in Oct 24 – Nov 4 from 78,039 points in Oct 10 – 21. ISE is fluctuating between ups and downs during 2016 and there is no sign it will manage to enter in a more stable trend – being either positive or negative one.