The major blue-chip indices in Southeast Europe continued to enjoy an uptrend and all but one registered an average two-week growth in the period Sep 19 – 30 compared to Sep 5 – 16.
The sharpest two-week average growth, of 4.48%, was recorded by Bulgarian Stock Exchange (BSE)’s SOFIX. The index is in an uptrend since end-April 2016 and its two week value averaged 493.4 points, or by 11.3% higher than a year earlier.
Another good performer was Zagreb Stock Exchange’s (ZSE) CROBEX with the second best two week average growth, of 3.83%. CROBEX’s uptrend started even earlier than SOFIX’s – in January 2016. CROBEX closed at 1,941 points on Friday, Sep 30 with this value being its one-year maximum.
Despite the overall uptrend, the other major SEE blue-chip indices grew much slower. SBITOP, the Ljubljana Stock Exchange (LJSE) blue-chip index kept its uptrend and it posted a two-week average rise of 1.07%. SBITOP’s average value in Sep 19 – 30 was 742.7 points, 12.3% more than a year ago.
BELEX15, the blue chip index of the Belgrade Stock Exchange (BELEX), is also in an overall growth trend and its two week average increase was 0.72%. BELEX’s uptrend started in early 2016 when the one-year minimum value of 574.2 points was recorded. On Friday, Sep 30, BELEX closed at 636.3 points.
Istanbul Stock Exchange’s (ISE) BIST 100 blue-chip index is experiencing a volatile period since the attempted coup in the country in mid-July and this time managed to achieve a two-week average rise, of 0.47%. During the one year period ending on Sep 30, the BIST 100 value fluctuated widely – between 68,568 points and 86,344 points.
Bucharest Stock Exchange (BVB)’s BET blue-chip index was the only one to register a two-week average decline, of 0.25%. Despite that, BET is expected to keep its overall uptrend. The index is still recovering from the downfall in late 2015 and early 2016 when BET’s value slumped to the one-year minimum of 6,019 points, compared to the one-year maximum of 7,345 points.