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© InterCapital Securities AD Belgrade |
Slight and illiquid correction
Good morning… As we already announced, yesterday trading was without important event and with slight correction of indices, accompanied with chronic illiquidity. index of the most liquid shares, Belex15, closed with negative correction of 0.74%, while general index, Belexline, went down for 0.64%. Total turnover was 47 million RSD (470.000 EUR), with bonds participation of 9.7%.
The highest turnover among shares was recorded by share of company Imlek (IMLK) and Sojaprotein (SJPT) with 9 million RSD, followed by shares of AIK bank (AIKB) with 7 million RSD.
Participation of foreign investors was again on satisfactory level of 67% -on the buy side with even 82%, while participation on the sell side was 52%.
We wish you a successful day!
SERBIAN EQUITY market; HIGHLIGHTS
| DOWN | 25 |
| NO CHANGE | 16 |
| UP | 15 |
| TOTAL TRADES | 56 |
TOP PERFORMERS (table)
BELEX15 / General info / Change (%) / Fundaments (Trailing Basis for banks) (table)
IMLK SG: Imlek AD Beograd (chart)
SERBIAN EQUITY market; FUNDAMENTALS OF SELECTED COMPANIES
Selected Serbian Equity Fundamentals (Trailing Basis) & Performance (tables)
WORLD EQUITY indices - FLASH DATA
General Information / index / Country / Change / Fundaments (table)
FED encourages investors
After regular meeting yesterday, FED’ representatives announced that referent interest rate will remain constant for a while, on the ever lowest level of almost 0%, because inflation is under control. Also, they noticed that Business sector began to spend more for technological equipment and software, while employment became more stabile, although employers still hesitate to open new jobs.These FED’ notes had a good impact on market mood, so shares prices went up and recorded the highest levels in the last 17 months. The same effects had also announcement from rating agency Standard&Poor’s about auditing of Greece’ rating and sent a word that the last used measures for budget deficit give a positive result. Investors’ bother about financial problem of Greece was additional decreased because ministers of euro zone promised financial help for Greece, if that would be necessary. The biggest winner of day was Intel with price growth of 4%, which was affected by company’ announcement about production of the newest chip for servers, before competitors Advanced Micro Devices.
INTC US: Intel Corp (chart)
TECHNICAL OUTLOOK; WORLD EQUITY indices - S&P; daily graph
1.150 breached
Today we are looking at daily S & P graph. We want to point out something very important... S & P breached resistance at 1.150 yesterday. This breach can still be just a false break (and double top, which we mentioned few days ago, is still a possibility). index is moving in a rising wedge for some time. Since this pattern did not form at end of an uptrend we think that it is not so bearish. index entered overbought on RSI yesterday, but red trend line is still intact (a breach would be a sell signal). CMCI is also not showing sell signal.
Trading suggestion:
Few days ago we said that we would be sellers at 1.150. Although RSI and CMCI still are not showing sell signals we would be very careful (in case you are still long).
| Technical targets: | |
| 1.156,00 | close |
| 1.150,00 | high from 11/1/2010 |
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InterCapital Securities a.d. Belgrade
23, Makenzijeva Str. * 11000 Belgrade * Serbia * Tel: /+381 11 380 93 91 * Fax: +381 11 383 76 00 * http://www.intercapital.rs * e-mail: research@intercapital.rs
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IC Equity Daily 180310.pdf, 644 Kb
