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 93,3 mil EUR at average rate 116,2248. EUR and USD indicators for current day: Time Country Event Period Previous Forecast!! 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.329%.331% -.2 FX Savings Bond - Serbia EURIBOR1M.382%.383% -.1 Price Yield EURIBOR3M.662%.663% -.1 EURIBOR6M.939%.941% -.2 A213 95,26 5,19% LIBOR1M (USD).24275%.24275%. A214 89,36 5,91% LIBOR3M (USD).46785%.46785%. A215 84,63 5,8% LIBOR1M (CHF).3917%.3917%. A216 8,21 5,72% LIBOR3M (CHF).983%.983%. Source: Belex Note: Interest rates refer to the previous working day 1

2 Equity market SERBIA Previous Change YTD Belex % % Belex line % -1.41% Turnover 29,931,798 Din. 255,773 2,869,964 Din. 178, % 43.4% Ratios P / B P / E Belex15,54 4,25 Source: Belex Belex15 Belex Line % 7.% 6.% 5.% 4.% 3.% 2.% 1.%.% -1.% -2.% -3.% Daily - members of Belex15 6.9% 3.23%.%.%.%.%.%.%.26%.34% -.31% -.11% -1.2% -2.7% AIKB SJPT VZAS JMBN KMBN IMLK ENHL FITO JESV ALFA AERO NIIS MTLC TIGR Fiat to launch serial production of Serbian-made model in July, first cars to be sold in late fall, FAS commercial director says. Fiat will launch serial production of its new 5L model in Kragujevac in July,according to Gerry Clarke, commercial director at Fiat Automobili Srbija (FAS), the Italian automotive company s 67%-33% joint venture with Serbia. The sale of the 5L model will first be launched in Italy and Serbia, which is expected in late fall, Clarke said at the opening of a showroom of FAS authorized dealer in Republika Srpska, the Serb entity of Bosnia-Herzegovina. Last week, the Serbian Finance Ministry paid the state s portion of funding for the joint venture with Fiat in Kragujevac, after Vecernje Novosti cited an unnamed source as saying that the delayed payment threatened to postpone the start of the sale and export of 5L to September. According to earlier reports, FAS opened its redesigned plant in mid-april, under a EUR 1 billion project. Serial production of the 5L model was originally expected to start in May. (Executive newsletter) Russian PSP-Farman says to complete first 15 apartments at EUR 16 million Belgrade complex by end-october. Russian real estate developer PSP-Farman Holding plans to complete the first 15 apartments at its EUR 16 million commercial, residential and office complex in New Belgrade s Block 65 neighborhood by the end of October, Tanjug reported over the weekend. Last June, PSP-Farman announced that it plans to complete the construction of the complex, which will include the new tallest building in the Serbian capital, in three phases by the end of 216. Belgrade s future tallest building will be 146 meters high, with 39 stories. The complex, called West 65, will have a total of 514 apartments, ranging from 36 to 288 square meters. There will be some 1 commercial spaces on offer. The underground garage will have 545 parking spaces. According to earlier reports, PSP-Farman launched construction on the complex in April 211. (Source: Executive newsletter) Italian steel maker Danieli is yet to decide whether or not to invest in Serbia, Danieli Executive Director and Chief Operating Officer Franco Alzetta has told Blic. The company s decision not to proceed with a project it tentatively planned for the western Serbian town of Sabac, after it bought Croatian pipe mill CMC Sisak for USD 3.4 million, is not due to either the outcome of Serbia s presidential elections or any demands by the Democratic Party (DS), as has been speculated in Serbia, according to Alzetta. Danieli has simply slowed down some major investment projects as it searched for the best option amid the global economic crisis, he said. In March this year, Danieli signed a memorandum of understanding with Serbian authorities, and economy minister Nebojsa Ciric later said that the Italian company planned to invest EUR 5 million in Serbia in stages. (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 ,428.25% 1.27% ENHL ,5.%.9% NIIS 593 7,2,527.34%.5% SJPT , % -5.8% #N/A N/A #N/A N/A #N/A N/A TIGR 31 46,5 6.9% 3.68%.16 #N/A N/A ,47,135,742 Din. 3,916,832,764 Din. 96,694,82,313 Din. 7,254,12,117 Din. 532,722,595 Din. Company Alfa Plam Komercijalna banka Metalac Izvor: Bloomberg Ticker Price Turnover in RSD Daily B Listing Weekly ALFA 6,5 26,.% -4.97% KMBN 1,559.% -5.4% MTLC 1,6 768, 3.23% 4.44% P/BV P/E ROE Market Capitalization 1,136,277,954 Din. 13,577,814,453 Din. 1,632,, Din. Open market Issuer Symbol Closing price Change (%) Open High Low VWAP Traded volume Traded value (RSD) Jubmes banka a.d. AIK banka a.d. Niš Dimničar a.d. Banini a.d. Energoprojekt Niskogradnja a Dunav Grocka a.d. Privredna banka a.d. Veterinarski zavod Subotica a Energoprojekt Visokogradnja AIK banka a.d. Niš Institut za strane jezike a.d. Standard Novi Sad a.d. Globos osiguranje a.d. Dunav osiguranje a.d. JMBN 1,987 -,11% 1,987 21,974 1,986 1, AIKB 1,373-2,7% 1,35 2,75 1,35 1, DMNR 6,,% 6, 12, 6, 6, 1 BNNI 16,31-2,% 16,31 32,62 16,31 16,31 25 EPNS ,75% 976 1, DNVG 112,% ,365 PRBN 15,% ,381 VZAS 32 -,31% EPVI 4 +5,26% AIKBPB 8,% 8 1, INSJ 9,,% 9, 18, 9, 9, 5 STNS 5,% 5 1, GLOS 241-1,23% DNOS 816 +,12% 816 1, ,361,99 Din. 93,19 Din. 6, Din. 47,525 Din. 39,4 Din. 376,88 Din. 357,15 Din. 32,82 Din. 12,8 Din. 95,2 Din. 45, Din. 38, Din. 36,15 Din. 24,48 Din. 3

4 REGION Index Country / Region Previous Change YTD Crobex SBITOP SOFIX BET Croatia 1, Slovenia Bulgaria , Romania 4, , DJ Stoxx Balkan 5 Balkans % -6.95% -.8% -7.25% -.42% -1.43%.61% 3.63% 1.14% -.17% CROBEX crobex SBITOP sbi SOFIX sofix BET bet-c dj balkan DJ Stoxx Balkan 5 Greek depositors have moved some of the money they have withdrawn lately from Greek banks into Turkish banks, as market concerns deepen that the debt-ridden country, which faces general elections June 17, will eventually exit the euro area, according to Turkish media. An estimated sum of between 3 and 4 million euros of deposits has been transferred to Turkish banks, according to a report by daily Star, citing unnamed officials. The officials conducted research after Aleka Papariga, the leader of the Communist Party of Greece, claimed that Turkish banks were also exposed to risks stemming from the Spanish economic crisis, as the banks had 4 billion euros worth of Spanish bonds. According to the results of the research, the backdrop of this warning was concern over whether the money withdrew in Greece fled to Turkey., Hurriyet Daily reports. (Source: Balkans.com) Consumer prices in Croatia in May were 3.9 per cent higher than the same month last year, the highest inflation rate in more than three years in Croatia, reported website bankamagazine.hr. Compared to May last year, the highest price increases of 14.9 per cent were in housing, water, electricity, gas and other fuels, according to the Central Bureau of Statistics. (Source: Balkans.com) 4

5 WORLD Index Country / Region Previous Change YTD Dow Jones Industrial S&P 5 NASDAQ FTSE Dow Jones Stoxx 6 Nikkei , , ,872.8 UK 5, EU Japan 8, , , , , , % 4.5% 1.3% 6.78% 1.29% 1.27%.22% -1.68%.98% -.13%.1% 1.35% Dow Jones Industrial S&P dow jones 12 s&p NASDAQ Composite FTSE nasdaq 6 dax DJ Stoxx 6 Nikkei nikkei 15 \ dj stoxx European stocks were little d as the yield on Spain s benchmark 1-year bond climbed to 7 percent, amid fading optimism that Greece s election will calm the euro area s sovereign-debt crisis. U.S. index futures retreated, while Asian shares climbed. Bankia SA and Banco Bilbao Vizcaya Argentaria SA paced losses by bank shares as Spain s borrowing costs surged. Cable &Wireless Worldwide Plc jumped after its largest investor said it will accept Vodafone Group Plc s takeover offer. Spain s 1-year government bond yields rose to more than 7 percent, the most since the country started using the euro in The 5.85 percent security due January 222 fell 1.66, or 16.6 euros per 1, face amount, to The New Democracy and Pasok parties won enough seats to form a majority in the 3-member parliament, according to the Greek parliament s speaker, easing concern that the country s voters would reject the austerity measures needed to qualify for international aid. New Democracy s Antonis Samaras will begin his second bid in six weeks to form a coalition. Greece s new government must emerge quickly from yesterday s contest, euro-area finance ministers said in a statement. Greece s international monitors will return to Athens as soon as a new government is in place to ex views with the new government on the way forward, the ministers said in their statement.(source: Bloomberg) U.S. stocks rose, giving the Standard & Poor s 5 Index its first back-to-back weekly gain since April, amid speculation central banks will take steps to stimulate growth and contain a prolonged debt crisis in Europe. All 1 S&P 5 groups advanced. Equities rose as signs of a global economic slowdown spurred speculation about stimulus measures. Policy makers from the U.K. to Japan and Canada stepped up warnings about the threat to financial markets should Europe fail to contain its crisis. In the U.S., reports showing a decline in retail sales, industrial production and consumer confidence added to evidence of economic weakness before Federal Reserve policy makers meet June 19-2 to decide whether more stimulus is needed.() 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