Analysis of trade on Belgrade Stock Exchange from August 6 to 10, 2007

Long expected growth of turnover on the Belgrade Stock Exchange was finally registered last week. Average daily turnover exceeded 7.26m EUR with simultaneous growth of stock exchange indexes. Is the period of summer lethargy behind us or is this only short-lasting improvement, we will have to wait and see, but, in any case, Stock Exchange became livelier. Belex 15 and Belex line registered weekly growth of 0.39%, that is, 0.38%, while participation of foreign investors in total turnover exceeded 51%.

Stocks of the latest candidate for Listing A, Bečej-based Sojaprotein, are among the most traded stocks with the volume of over 7,800 stocks. The price in the previous period reached amount of 23,000 RSD, while the final price at the end of the week was 23,194 RSD. New member of the official stock exchange market, Energoprojekt holding, was also interesting to the investors last week. Price of the stock registered growth of 2.26%, while the number of traded stocks on Wednesday, August 8, amounted to 43,773. Energoprojekt holding has been mentioned in the past few days as possible contractor for works on construction of railway station Prokop. The plan is that all necessary negotiations end before the end of the year and, if the agreement is reached, construction will start in spring 2008.

Pirot-based Tigar, the first member of Listing A of the Belgrade Stock Exchange, started with production of products of recycled rubber. In that way, this company meets EU standards concerning recycling of 70% of waste tires and resolves numerous ecological problems.

Manufacturer of confectionery products, Banini, has successfully finished additional capitalization by selling 5,000 new stocks, 91% of which were sold in accordance with the priority right. According to the plan, the funds obtained from additional capitalization will be used for investments in expansion of production lines and repayment of loans.

Author : Tijana Cvetković, financial analyst

Ilirika Investments, a.d., Beograd

tijana.cvetkovic@ilirika.co.yu

Supervisory organ: Securities Commission, Belgrade