SOFIX Is Top Decliner Among Indexes in the EU Member Countries Of CEE

SOFIX Is Top Decliner Among Indexes in the EU Member Countries Of CEE

Determining which is the most declining index in CEE was not an easy task. Bulgaria's SOFIX ranks second in this non-prestigious chart after losing 26.52% year to date.

The plunge of the local blue chip index is slightly higher than that of Serbian BELEX 15, which lost nearly 26.36% this year.

The worst performer in the region is the Croatian CROBEX, which fell 26.77% since the beginning of 2008.

Country Index Beginning of 2008 19 March 2008 Change %
Serbia BELEX15 2289,35 1685,83 -26,36%
Macedonia MBI-10 7690,36 5787,7 -24,74%
Hungary BUX 25889,94 21894 -15,43%
Slovenia SBI TOP 2518,49 2053,09 -18,48%
Poland WIG-20 3421,2 2878,44 -15,86%
Czech Republic PX 1808,6 1523,7 -15,75%
Russia RTS 2296,56 2027,36 -11,72%
Bulgaria SOFIX 1737,42 1276,62 -26,52%
Croatia CROBEX 5245,58 3841,44 -26,77%
Romania BET 9567,16 7294,18 -23,76%


This makes SOFIX the most declining index among CEE countries in the EU. The Romanian BET is second here with a 23.8% slide year-to-date.

We have to note that all indexes in the region have lost more than 10% this year. The smallest losses (between 15 and 16%) were registered in Poland, the Czech Republic and in Hungary - the first countries in CEE to join the region.

The Russian RTS records the smallest loss – 11.7%. The index stays stable supported by oil companies in it and due to the slow growth last year.

Indexes in CEE have declined by an average of 20.5% this year, compared with an average of 16.4% for Europe. The MSCI index, which reflects the performance of the developing markets has fallen 14.5% since the beginning of 2008.

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