FX rate MM and fixed income

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1 DAILY REPORT Financial market analysis Unit Brokerage Unit Milica Travica Ljiljana Zipovski Srñan Maletić Snežana Spasojević Vladimir Gavović FX sales Unit Custody Unit Darko Karanović Vitomir Marić Marija Prebanić Biljana Radosavljević Dragan Ignja FX rate Domestic market International market Currency Previous Change Currency Previous Change EURRSD % EURUSD % USDRSD % EURCHF % CHFRSD % EURGBP % GBPRSD % GBPUSD % Source: NBS USDJPY % EURRSD EURUSD Central bank informed us that till 12:3 total amount of trading was 72,9 mil EUR at average rate 115,5819. EUR and USD indicators for current day: Time Country Event Period Previous Forecast!! 7: Germany Producers prices YoY May 2.4% 2.2% MM and fixed income Interbank market - Serbia Key rate NBS 1.% Previous Change bps Source: NBS BEONIA BELIBOR1M T Bills - Serbia BELIBOR3M Maturity Previous Source: Reuters 3 month 11.6% 11.9% 6 month 1.48% 1.48% Major Key rates 12 month 12.58% 12.5% 18 month 13.99% 13.39% ECB 1.% 24 month 13.99% 13.49% FED.25% 36 month 14.99% 14.89% SNB.% 6 month 15.1% 14.7% 24 month EUR 6.25% 18 month EUR 6.19% 5.4% 53 week-eur 5.95% Source: Treasury - Ministry of Finance Interbank - World Previous Change bps EONIA.334%.329%.5 FX Savings Bond - Serbia EURIBOR1M.381%.382% -.1 Price Yield EURIBOR3M.659%.662% -.3 EURIBOR6M.934%.939% -.5 A213 95,36 95,26 LIBOR1M (USD).24375%.24275%.1 A214 89,36 89,36 LIBOR3M (USD).46785%.46785%. A215 84,6 84,63 LIBOR1M (CHF).41%.3917%.183 A216 8,26 8,21 LIBOR3M (CHF).9%.983%.417 Source: Belex Note: Interest rates refer to the previous working day 1

2 Equity market SERBIA Previous Change Belex % Belex line % Turnover 38,844,972 Din. 29,931,798 Din % 334, , % Ratios P / B P / E Belex15,55 4,32 YTD % -9.3% Source: Belex Belex15 42 Belex Line % Daily - members of Belex15 2.% 19.2% 15.% 1.% 5.%.% -5.% 3.23%.%.%.%.%.%.3%.6%.31% -1.28% -.41% -.28% -2.28% ENHL AERO SJPT AIKB NIIS KMBN FITO JESV ALFA JMBN MTLC VZAS TIGR IMLK Comico Oil, the Serbian subsidiary of the Netherlands-registered Comico Overseas, believes it will not be late with a RSD 652 million payment for a 99-year lease on 113 hectares of land in Smederevo s industrial zone, where it plans to build an oil refinery, deputy general manager Radomir Radivojevic told Vecernje Novosti. Radivojevic added that even if Comico Oil does not meet the June 26 deadline, the payment will be made in a matter of days. Earlier this year, Smederevo Mayor Predrag Umicevic said that Comico Oil is expected to start building the refinery this year, under a USD 25 million investment. According to earlier reports, Smederevo officials signed a deal with Comico Oil on leasing the plot of land for the oil refinery in April this year. The contract was inked following nearly four years of negotiations, according to RTS. Comico Overseas is a consortium set up by engineering company Basic Equipment, energy supplier Global Gas, and investment banking firm B.V. Murray & Co, all from the US, according to previous reports. (Source: Executive newsletter) Italian carmaker Fiat will launch serial production of its new L model in Kragujevac on July 4, Danas reported. According to the report, Fiat Automobili Srbija (FAS), the Italian automotive company s 67%-33% joint venture with Serbia, is expected to start exporting the new model in September. The daily also wrote that the Kragujevac factory will manufacture 3, cars by the end of the year. According to Danas, FAS will also start manufacturing a 7-seater, the XL, in 213. The XL is catered towards the US market, the daily said. Last week, Gerry Clarke, commercial director at FAS, said that the sale of the L model will first be launched in Italy and Serbia and that this will happen in late fall this year. According to earlier reports, FAS opened its redesigned plant in mid-april, under a EUR 1 billion project. Serial production of the L model was originally expected to start in May. (Source: Executive newsletter). US-Canadian brewer Molson Coors completes EUR 2.65 billion takeover of owner of Serbia s Apatinska Pivara. Canadian- American Molson Coors Brewing Company has completed its takeover of StarBev, which owns nine brewers in Central and Eastern Europe (CEE), including Serbia s Apatinska Pivara, for EUR 2.65 billion, according to a statement from Molson Coors. Molson Coors bought StarBev from funds advised by UK private equity firm CVC Capital Partners. Mark Hunter, CEO of Molson Coors UK and Ireland business, will serve as CEO of the new business unit, which has been renamed Molson Coors Central Europe, the statement reads. Molson Coors Central Europe employs approximately 4,1 people, operates nine breweries and sells its beers in the Czech Republic, Serbia, Croatia, Romania,Bulgaria, Hungary, Montenegro, Bosnia-Herzegovina, and Slovakia. Theacquisition includes Staropramen, the business unit s flagship brand. (Source: Executive newsletter) 2

3 A Listing Company Ticker Price Turnover in RSD Daily Weekly P/BV P/E ROE Market Capitalization Aerodrom Nikola Tesla Energoprojekt holding Naftna industrija Srbije Soja protein Tigar Izvor: Bloomberg AERO , % -1.1% ENHL , % -6.1% NIIS 593 5,779,971.%.5% SJPT , % % #N/A N/A #N/A N/A #N/A N/A TIGR 32 9,6 3.23% 7.2%.16 #N/A N/A ,98,531,25 Din. 3,827,362,61 Din. 96,694,82,313 Din. 7,224,329,12 Din. 549,97,227 Din. Company Alfa Plam Komercijalna banka Metalac Izvor: Bloomberg Ticker Price Turnover in RSD Daily B Listing Weekly ALFA 6, 26,.% -4.23% KMBN 1,559.% -5.4% MTLC 1,61 3,419.6% 4.5% P/BV P/E ROE Market Capitalization 1,136,277,954 Din. 13,577,814,453 Din. 1,633,2,2 Din. Open market Issuer Symbol Closing price Change (%) Open High Low VWAP Traded volume Traded value (RSD) Imlek a.d. Impol Seval a.d. Šajkaška fabrika šećera a.d. Zlatibor a.d. Privredna banka a.d. Dunav Grocka a.d. Komercijalna banka a.d. Nafta a.d. AIK banka a.d. Niš Dijamant a.d. Astoria a.d. Jubmes banka a.d. Fabrika hartije a.d. Telefonija a.d. IMLK 2, ,2% 2, 4,388 2, 2,33 2,158 IMPL 679 -,15% 67 1, ,7 SJKS 3,456 +2,% 3,45 6,96 3,45 3, ZLZL 1,,% 1, 2, 1, 1, 367 PRBN 15,% ,199 DNVG ,68% ,45 KMBNPB 778,% 778 1, NFTA 13, +4,% 13, 26, 13, 13, 13 AIKB 1,398 +1,82% 1,4 2,8 1,371 1, DJMN 6,,% 6, 13, 6, 6, 2 ASTR 6,% 6 1, JMBN 1,99 +,3% 1,99 21,98 1,99 1,99 1 FHBGD 178,% TLFN 175-5,41% ,27,683 Din. 727,5 Din. 63,954 Din. 367, Din. 329,85 Din. 276,575 Din. 22,28 Din. 169, Din. 164,93 Din. 13, Din. 114, Din. 19,9 Din. 88,466 Din. 62,475 Din. 3

4 REGION Index Country / Region Previous Change YTD Crobex SBITOP SOFIX BET Croatia 1,623.8 Slovenia Bulgaria , Romania 4, , DJ Stoxx Balkan 5 Balkans % -6.73% -.6% -7.8%.81% -9.71% 1.21% 4.89% 2.17% 1.99% CROBEX crobex SBITOP sbi2 SOFIX sofix BET bet-c dj balkan DJ Stoxx Balkan 5 The International Finance Corporation (IFC) is set to provide financing of up to 55 million euro ($69.5 million) for a greenfield wind power plant totalling 43.7 megawatts near the Croatian city of Sibenik, data from the IFC website indicated. The total project cost is estimated at approximately 84.3 million euro, including Added Tax. (Source: Limun.hr) From January to April, Bulgaria's foreign direct investment amounted to EUR47m, according to preliminary data released June 15 by the Bulgarian National Bank. Year on year, Bulgaria saw a surge in FDI which amounted to EUR 63.2m for January to April 211, newswires reported. By country, the largest direct investments in Bulgaria for the period were those of the Netherlands (EUR386.4m) and Switzerland (EUR15.6m). Bulgaria's attracted Equity Capital for the monitored period amounted to EUR288.1m, which is again an increase compared to that attracted in the same period of 211 (EUR 22.6m). Net capital was positive, amounting to EUR11.2m in January to April 212, compared to a negative sum, net of EUR-189.6m in January - April 211. According to the date data in January to April 212, Bulgaria's direct investment abroad increased by EUR39.1m, compared to an increase of EUR48.8m in January to April 211. (Source: Executive newsletter) 4

5 WORLD Index Country / Region Previous Change YTD Dow Jones Industrial S&P NASDAQ FTSE Dow Jones Stoxx 6 Nikkei , , , UK 5,491.9 EU Japan 8, , , , , , % 4.29%.14% 6.93%.78% 11.14%.22% -1.46%.6% -.7% 1.77% 3.14% Dow Jones Industrial S&P dow jones 12 s&p NASDAQ Composite FTSE nasdaq 6 dax DJ Stoxx 6 Nikkei nikkei 1 \ dj stoxx European stocks climbed for a third day as Group of 2 leaders debated the region s financial crisis and Greek policy makers continued talks to form a government. U.S. futures were little d and Asian shares fell. SAP AG rose 1.1 percent after U.S. peer Oracle Corp. reported fourth-quarter profit that beat estimates. Whitbread Plc gained 1.2 percent as first-quarter sales rose. Danone tumbled 6 percent after the world s biggest yogurt maker cut its profitability forecast. Greek election winner Antonis Samaras begins a second day of talks to form a coalition government. Samaras secured initial agreement yesterday from Socialist Pasok leader Evangelos Venizelos, and said he would talk today with Fotis Kouvelis, head of the Democratic Left party. If those three team up, they will hold 179 seats in the 3-member parliament. () Most U.S. stocks advanced, sending the Standard & Poor s Index higher for a third day, as optimism about Greece s attempts to form a coalition government tempered concern about a surge in Spanish bond yields. Apple Inc., the world s most valuable company, added 2 percent to pace gains in technology shares. D.R. Horton Inc. and Lennar Corp. climbed at least 3.9 percent as confidence among homebuilders rose to a five-year high. Facebook Inc. rallied 4.7 percent in the one-month anniversary of its initial public offering. Energy and financial shares in the S&P declined. Equities rebounded as Antonis Samaras, leader of Greece s New Democracy party, said he had a constructive discussion with Democratic Left leader Fotis Kouvelis. German Chancellor Angela Merkel s said Greece shouldn t be granted leeway on terms for its bailout. Group of 2 chiefs began a two-day meeting as Spain s borrowing costs soared to a euro-era record. Policy makers are discussing ways to stimulate the economy if necessary, a Canadian official said. () Disclaimer This overview is written to inform and does not represent a call for making business decisions and buying or selling mentioned financial instruments. Banca Intesa ad Beograd does not guarantee exactness of summoned data. Information, opinions and commentaries in this overview are given with the best intention according to available data provided from relevant sources and as a result of professional attitudes and orientations of analytical team working in Banca Intesa ad Beograd. Banca Intesa ad Beograd does not assume responsibility for possible loss and damage caused by business activities according to any element and contents of the overview. This document may only be reproduced in whole or in part together with the name of Banca Intesa Beograd. 5