FIMA Daily Insight

Thursday, March 27, 2014

Croatia STOCK EXCHANGE CROBEX Last 1.752,08 Croatian equities closed lower yesterday with both indices decreasing; daily -0,79 CROBEX decreased 0.79% to 1,752.1 pts and blue chip CROBEX 10 declined YTD -2,35% 1,08% to 975.63 pts. Regular stock turnover amounted to HRK 9.2 million. (Negative) CROBEX10 Last 975,63 daily -1,08 Integrated telecom operator HT (HTRA CZ) topped the liquidity board once YTD -1,93% again collecting HRK 1.4 million in turnover and decreasing 0.59% to HRK Stock Turnover (EUR m) 1,08 163.87. MkCap(%of GDP) 56,91% Source:www.zse.hr Croatia's Zagrebacka Banka [ZSE:ZABA-R-A] said on Wednesday it plans to allocate to retained earnings its net profit of 465.3 million kuna ($83.8 million/60.7 million euro) posted in 2013. (Neutral) LJUBLJANA STOCK EXCHANGE SBI TOP Last 709,48 daily 1,53% It has been announced on the web pages of the company PSE S.A. Poland that the works contractor for the construction of a double circuit 400 kV YTD 8,21% transmission line Kozienice-Oltarzew in Poland has been chosen. The Stock Turnover (EUR m) 3,54 contract for the construction was awarded to the consortium of the company MkCap(%of GDP) 50,95% Polska S.A., a company which is 100% owned by the company Source:www.ljse.si Dalekovod d.d. and the Polish company ZUE S.A., the consortium leader. The project is worth a bit over 110 million euros. The works will take place from the contract signing until the middle of 2019. (Positive) BELGRADE STOCK EXCHANGE BELEX15 Last 562,53 Slovenia daily -0,22% YTD 0,82% BELEXline Last 1.117,52 Slovenian home appliances maker Gorenje [LJE:GRVG] said on Wednesday it has successfully issued 9-month commercial papers with a combined daily -0,35% nominal value of 35 million euro ($48.3 million). Gorenje issued 35,000 YTD 1,14% bonds with a par value of 1,000 euro each carrying an interest rate of 4.0%, Stock Turnover (EUR m) 0,15 the company said in a bourse filing. “By issuing the commercial paper, MkCap(%of GDP) 23,69% Gorenje is diversifying its short-term debt and managing the interim Source:www.belex.rs oscillations in free cash flow generation,” the company added. (Positive)

Slovenian pharmaceutical products wholesaler Salus [LJE:SALR] plans to pay BUCHAREST STOCK EXCHANGE a dividend of 20 euro ($27.6) per share for 2013, the bourse in Ljubljana BET Last 6.317,11 said on Wednesday. (Positive) daily 1,10% YTD -2,72% Serbia BET BK Last 1.189,40 daily 1,26% The European Investment Bank (EIB) said on Wednesday it is considering YTD -5,73% lending a total of 35 million euro ($48.3 million) to Serbia’s Banca Intesa BET C Last 3.202,89 Beograd and Intesa Leasing. (Positive) daily 0,96% YTD -4,23% Romania Stock Turnover (EUR m) 7,06 MkCap(%of GDP) 21,47% Romania's top oil and gas group, OMV Petrom [BSE:SNP], said it plans to Source:www.bvb.ro pay a gross dividend of 0.0308 lei ($0.0095 /0.0069 euro) per share for 2013, up from 0.028 lei paid a year earlier. Shareholders are expected to vote on the dividend proposal on April 29, OMV Petrom said in a statement on Tuesday. (Positive)

Romanian property restitution fund Fondul Proprietatea [BSE:FP] will start its third buyback programme on March 27, its manager, Franklin Templeton Investment Management Ltd, said. (Positive)

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FIMA Daily Insight

Thursday, March 27, 2014

TOP 5 Companies ZAGREB STOCK EXCHANGE 26 March 2014 turnover (HRK) by price - Gainers (CROBEX) by pprrice - Decliners (CROBEX)

Symbol Price Volume (mln) Change Symbol Price Change Symbol Price Change HT -R-A 163,87 1,37 -0,559%9% PTKM-R-A 79,95 4,89% BLJLJE-R-A 42,61 -4,07% ERNT-R-A 1.609,00 1,25 0,112%2% DLKV-R-A 29,00 3,53% INA-R-A 3.302,40 -2,87% INGR -R-A 3,27 1,03 1,887%7% INGR-R-A 3,27 1,87% KORF-R-A 165,64 -1,99% CKML-R-A 3.200,00 0,96 0,000%0% DDJH-R-A 51,80 1,57% AADDRS-P-A 260,27 -1,78%

PODR-R-A 285,50 0,35 -0,887%7% VPIK-R-A 91,00 0,66% KOEI-R-A 642,00 -1,23%

TOP 3 Companieess LJUBLJANA STOCK EXCHANGE 26 March 2014

turnover (EUR) by price - Gainers by price - Decliners

Symbol Price Volume (000) Change Symbol Price Change Symbol Price Change

KRKG 59,60 576 2,005%5% UKIG 3,60 20,00% CICG 118,50 -1,13% TLSG 133,50 342 0,553%3% SKDR 30,01 3,48% PILR 6,05 -0,82% PETG 270,00 74 1,885%5% GRVG 4,15 3,23%

TOP 3 Compa nieess BELGRADE STOCK EXCHANGE 26 March 2014 turnover (RSD) by price - Gainers by price - Decliners

SymbolP rice (RSD) Volume (mln) Change Symbol Price Change Symbol Price Change NIIS 903,00 3.559 0,222%2% IMPL 1.050,00 2,64% SJPT 496,00 -5,52%

MTLC 2.350,00 1.751 0,000%0% AIKB 1.486,00 1,78% VZASVZAS 333,00 -3,76% AERO 535,00 748 -2,337%7% DINNPB 1.124,00 1,17% MLSU 1.250,00 -3,70%

TOP 3 Compa nieess BUUCCHAREST STOCK EXCHANGE 26 March 2014 turnover (RON) by price - Gainers by price - Decliners

SymbolPrice (RON) Volume (000) Change Symbol Price Change Symbol Price Change

FP 0,81 14.906 2,334%4% SRT 0,011 12,50% CEON 0,0553 -14,92% TEL 16,82 2.979 7,334%4% TEL 16,820 7,34% ARS 1,614 -4,50%

SNP 0,44 2.489 0,000%0% CAOR 2,095 5,81% RMAH 0,26 -4,41%

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FIMA Daily Insight

Thursday, March 27, 2014

GDP Unemployment & CPI

3,00 25,00 2,50 20,00 2,00

1,50 15,00 1,00 % % 10,00 0,50 0,00 5,00 -0,50 -1,00 0,00 -1,50 -5,00 C roatia Slovenia Serbia Romania Croatia Slovenia Serbia Romania GDP 2012 GDP 4Q2013 GDP 2013e Unemployment 2013 CPI January 2013 m/m

Long-term credit Croatia Slovenia Serbia Romania rating

Fitch BB+ BBB+ B+ BBB-

Standard&Poors BB A- BB- BB+

Moody's Ba1 Ba1 B1 Baa3

Exchange rates

FX RATE HRK per EUR 0,1306

FX RATE RSD per EUR 0,0086

FX RATE RON per EUR 0,2220

FX RATE EUR per USD 1,3855

Investment stories

Hotel Imperial (HIMR-R-A) - privatization process in final stage

Petrokemija (PTKM-R-A) - Meeting of the Commission for Selection of Strategic Partner

Telekom Slovenije (TLSG) - among 15 companies which the Slovenian government wants to sell as part of the first

stage of a new privatization drive

Corporate events 31.03.2014 . Atlantic Group (ATGR) - Annual report 2013 22.04.2014 . Croatia Osiguranje (CROS) – General meeting

29.04.2014 . (HT) – General meeting

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FIMA Daily Insight

Thursday, March 27, 2014

CONTACTS FOR INSTITUTIONAL INVESTORS

IRENA FIŠTREK [email protected] +385 42 66 09 64

KREŠIMIR ČULO [email protected] +385 1 63 98 357 TRADING DEPARTMENT: [email protected] +385 42 66 09 60 RESEARCH DEPARTMENT:

NIKOLA BAKŠAJ [email protected] +385 42 66 09 74

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