Trading statistics for the whole 2022 show an average daily turnover of roughly EUR 0.3m (-28.2% YoY). Overall, total equity turnover declined by 39.5% YoY, primarily driven by lower block transactions, which fell by 61.1%.
The Macedonian Stock Exchange published its trading statistics for the whole 2022, showing an average daily turnover of EUR 0.3m. This represents a decrease of 28.1% YoY due to lower equity turnover, primarily driven by the lower amount of block transactions (-61.1% YoY). Looking at the data on a monthly basis, we can see a clear slowdown in equity turnover. The first 4 months represent as much as 49% of total turnover in 2022. From May all the way to the end of the year, we can see a gradual decline in equity turnover. We note only October is an exception due to the public auction for the big share package. Further, the total equity market capitalization on the stock exchange fell by 4.3% YoY.
When observing the top traded shares, one can notice that Komercijalna banka Skopje recorded the highest turnover of EUR 31.7m (or 28% of total equity turnover). Alkaloid Skopje follows with a turnover of EUR 13.9m (or 12.3% of the total), while NLB Banka AD Skopje is the third most traded stock with EUR 4.9m, representing a 4.3% of total equity turnover on the Macedonian Stock Exchange during 2022.
Of the MBI10 index components, we emphasize that each one of them reported a negative share price development during 2022, with Komercijalna banka AD Skopje noting the best relative performance with flattish price development of -0.4% YoY price decline.
Further, we note that currently, ZSE holds 30% of Macedonia’s Stock Exchange. During 9M 2022, ZSE noted a slightly lower bottom line, but higher sales, which amounted to EUR 2.8m (+ 13.4% YoY). A higher top line was achieved primarily from higher revenues from provisions and membership fees. Below we present you a Zagreb Stock Exchange’s share price.
ZSE Share price development in 2022
Source: Bloomberg, InterCapital Research