Local indexes stood resistant to the declines that swept international and CEE bourses last week.

The blue chips SOFIX lost a minor 0.4% last week, while the MSCIEE, which mirrors the performance of the regional stock markets plunged 7.3%.

The decline is to a large extent due to the slide of Russian indexes, which on the other and came as a result of the falling oil prices.

We must note that Russian indexes were the least hit amid those in developing markets and are to catch up on the other regional indexes.

The Russian MICEX has lost some 28% year to date, most of which in the past several weeks.

The Romanian BET was the biggest gainer last week, climbing 5.12%. The index is still 35.5% down year to date, which is a smaller loss than that of the Bulgarian SOFIX (-43%).

The local blue chips indicator is among the biggest decliners in CEE, only behind the Ukrainian PFTS (-46.2%) and Montenegro's NEX20 (-43.97%).

The Turkish ISE 100 has seen the smallest loss so far this year (-26.3%), even though it ended last year at -4.7%.

The MSCI, by comparison, has fallen 26.6% so far this year.

Country IndexWeekly changeYear to date change BulgariaSOFIX-0,40%-42,95%RomaniaВЕТ5,12%-35,50%CroatiaCROBEX-0,22%-30,71%MacedoniaMBI-10-0,12%-30,75%MontenegroNEX200,00%-43,97%RussiaMICEX-8,91%-28,02%SerbiaBELEX15-3,75%-38,50%TurkeyISE100-4,73%-26,27%UkrainePFTS-2,72%-46,19%Easterm Europe MSCI EE-7,34%-26,59%

Source: Karoll investment intermediary