FIMA Daily Insight Monday, June 15, 2015 Croatia Croatian equities closed mixed on Friday; CROBEX remain flat at 1,753.91 pts while blue chip CROBEX 10 decreased 0.08% to 1,024.79 pts. Regular turnover amounted to HRK 8.2 million. ZAGREB STOCK EXCHANGE (Neutral) CROBEX Last 1.753,91 Croatian food, beverage and drug producer Podravka (PODRRA CZ) topped the liquidity board collecting HRK 3.65 million in turnover and its price decreased 0.99% to HRK 314.10. daily 0,00% On GA of Croatian oil and gas company INA (INARA CZ) it was decided to pay a dividend of HRK YTD 0,49% 15 per share. The company will distribute as dividend HRK 150 mln from retained earnings. CROBEX10 Last 1.024,79 Record date is 26 June, ex dividend day is 24 June and payment date is July 12. (Positive) daily -0,08% Croatian ice cream and frozen food company Ledo (LEDORA CZ) will supply ice cream to US retailer Kroger on the basis of a signed cooperation agreement spanning 2015 and 2016, YTD 1,75% Agrokor said on Friday. Entering the US market and Kroger's retail network is Ledo's largest and Stock Turnover (EUR m) 1,02 potentially most important export breakthrough. The move is part of the business strategy MkCap(%of GDP) 56,91% pursued by Ledo and Agrokor aimed at stepping up exports and boosting the presence of Agrokor's products on the global market. (Positive) Source:www.zse.hr Croatian shipping company Tankerska Next Generation (TPNGRA CZ) raised its share capital by HRK 76.7 mln to help fund the development of its fleet. The company's share capital now totals HRK 436.7 mln, divided into 8,733,345 ordinary dematerialized registered shares, without par LJUBLJANA STOCK EXCHANGE value. Following a cash call issued last month, a total of 1,533,345 new shares have been SBI TOP Last 776,97 subscribed at a price of HRK 68 kuna apiece. (Positive) daily 0,25% In the five months of this year 25 insurance companies charged the total of 4.1 bln gross YTD -0,91% premium, which is 4.26% more than the same period last year. Non-life insurance premiums fell 2.3% while life premiums rose by 21.14%. (Neutral) Stock Turnover (EUR m) 1,46 State-controlled national flag carrier Croatia Airlines [ZSE:CRAL-R-A] posted a 1% increase in MkCap(%of GDP) 50,95% passenger numbers through May, a company official said on Friday. Passengers on regular Source:www.ljse.si international flights are up 3% through May. (Positive) Slovenia Slovenian state holding firm SDH said on Friday it expects early next week a response from BELGRADE STOCK EXCHANGE Cinven to the approval by the SDH board of the sale to the UK private equity fund of a 72.75% BELEX15 Last 692,70 stake in Telekom Slovenije [LJE:TLSG]. More detailed clarifications cannot be made before the end of the sale procedure, SDH said in a statement. (Neutral) daily -0,37% Slovenian state-owned lender NKBM is selling its 89.53% stake in Serbia's KBM Banka. YTD 3,85% (Neutral) BELEXline Last 1.424,52 Serbia daily -0,44% Serbian Finance Minister Dusan Vujovic said that public finance in Serbia was heading in good YTD 5,93% direction and that austerity measures aimed at fiscal consolidation were most likely to be alleviated by the year's end. Vujovic said that Serbia's budget deficit in May amounted to 1.6% Stock Turnover (EUR m) 0,09 of GDP, and it is expected that in June that 2% of GDP, respectively, RSD 40 bln. (Negative) MkCap(%of GDP) 23,69% Serbia’s consumer prices fell 0.3% mom in May after a 0.5% increase in April, the country's Source:www.belex.rs statistics bureau said on Friday. On an annual basis, Serbia’s consumer price index rose 1.5% in May after increasing 1.8% a month earlier, the statistics bureau said in a statement. (Neutral) Romania BUCHAREST STOCK EXCHANGE Power producer Hidroelectrica has won all the disputes in which energy traders challenged the BET Last 7.368,60 company’s decision to terminate the power purchase contracts with them. The contracts were at daily 0,17% below-market prices. This week, the court rejected the last appeal issued by energy supplier Alpiq Romindustries. Hidroelectrica terminated the contract with the supplier in August 2012. YTD 4,03% The contract generated losses of EUR 94.4 mln between 2006 and 2012 for the power producer. BET BK Last 1.366,59 However, Hidroelectrica is still involved in 16 lawsuits on debt-claim. The litigations need to be daily 0,37% settled, before Hidroelectrica can list shares on the stock exchange. (Positive) YTD 4,46% Romania will record the highest increase in lending among South-Eastern European states until 2019, according to Raiffeisen Bank International (RBI). It will see an annual growth rate of BET TR Last 8.041,69 12.4%, due to economic recovery and low interest rates. (Positive) daily 0,18% Romania's energy output rose by an annual 4.3% in the first four months of the year, while YTD 3,97% imports remained flat, the statistics office, INS, said on Friday. Romania's energy production totalled 7.47 million tonnes of oil equivalent (TOE) through April and imports remained at 3.25 Stock Turnover (EUR m) 5,4 million TOE, INS said in a statement. (Positive) MkCap(%of GDP) 21,47% The total traffic of goods recorded in the Romanian ports of Constanta, Midia and Mangalia Source:www.bvb.ro amounted to over 23 million tonnes between January and May this year. It increased by 20% compared to the same period last year. (Positive) The Romanian state has put up for sale a 27% stake in Rompetrol Rafinare, the second largest oil company in Romania. It is asking for a minimum price of USD 200 million. Rompetrol Rafinare is part of KMG International, which is controlled by KazMunayGas, the state oil company of Kazakhstan. The Romanian state owns a 44.7% share package in the company. The procedure to buy the 27% stake could extend up to 10 months. (Neutral) For more information please contact us via mail [email protected] or on tel. +385 42 66 09 64 1 FIMA Daily Insight Monday, June 15, 2015 TOP 5 Companies ZAGREB STOCK EXCHANGE 12 June 2015 turnover (HRK) by price - Gainers (CROBEX) by price - Decliners (CROBEX) Symbol Price Volume (mln) Change Symbol Price Change Symbol Price Change PODR-R-A 314,10 3,65 -0,99% ZABA-R-A 38,20 2,55% DDJH-R-A 25,83 -4,12% ADRS-P-A 386,00 0,84 -0,26% ATPL-R-A 209,50 2,20% DLKV-R-A 17,30 -2,81% KRAS-R-A 450,00 0,54 -1,10% HUPZ-R-A 1.900,00 1,76% KRAS-R-A 450,00 -1,10% RIVP-R-A 20,73 0,40 0,83% HMST-R-A 203,08 1,54% PODR-R-A 314,10 -0,99% HT-R-A 155,20 0,36 0,38% BLJE-R-A 28,00 1,45% KOEI-R-A 675,00 -0,56% TOP 3 Companies LJUBLJANA STOCK EXCHANGE 12 June 2015 turnover (EUR) by price - Gainers by price - Decliners Symbol Price Volume (000) Change Symbol Price Change Symbol Price Change KRKG 68,01 970 0,01% SAVA 0,35 16,67% TEAG 0,10 -16,67% GRVG 6,00 89 3,45% AGOG 4,60 9,52% LKPG 26,00 -0,73% ZVTG 27,00 87 -0,02% GRVG 6,00 3,45% PILR 24,30 -0,21% TOP 3 Companies BELGRADE STOCK EXCHANGE 12 June 2015 turnover (RSD) by price - Gainers by price - Decliners Symbol Price (RSD) Volume (000) Change Symbol Price Change Symbol Price Change ALFA 25.033,00 5.007 -7,29% VDAV 5.000,00 4,21% JESV 5.505,00 -9,08% AERO 1.330,00 394 -0,89% KMBN 1.999,00 3,31% ALFA 25.033,00 -7,29% ENHL 1.201,00 378 -1,64% AIKB 1.647,00 2,49% TETO 2.542,00 -5,85% TOP 3 Companies BUCHAREST STOCK EXCHANGE 12 June 2015 turnover (RON) by price - Gainers by price - Decliners Symbol Price (RON) Volume (000) Change Symbol Price Change Symbol Price Change FP 0,85 12,376 -0,58% TRP 0,3 6,63% EPT 0,0312 -14,75% TLV 2,135 2,119 1,52% ALR 1,218 4,10% DAFR 0,0085 -5,56% SNG 36,26 1,857 -0,66% RRC 0,0383 3,51% TBM 0,0289 -3,67% % For more information please contact us via mail [email protected] or on tel. +385 42 66 09 64 2 FIMA Daily Insight Monday, June 15, 2015 GDP Unemployment & CPI 4,00 25,00 3,00 20,00 2,00 1,00 15,00 % 0,00 % 10,00 -1,00 -2,00 5,00 -3,00 0,00 -4,00 Croatia Slovenia Serbia Romania -5,00 Croatia Slovenia Serbia Romania 2013 1Q14 2Q14 3Q14 2014 2015e Unemployment December 2014 CPI January 2015 m/m Long-term credit Croatia Slovenia Serbia Romania rating Fitch BB BBB+ B+ BBB- Standard&Poors BB A- BB- BBB- Moody's Ba1 Ba1 B1 Baa3 Exchange rates FX RATE HRK per EUR 0,1300 FX RATE RSD per EUR 0,0083 FX RATE RON per EUR 0,2300 FX RATE EUR per USD 1,0800 Investment stories Hotel Imperial (HIMR-R-A) - privatization process in final stage Telekom Slovenije (TLSG) - privatization process in second stage Corporate events 18.06.2015.