BELEX 15 - Forecast

Belgrade Stock Exchange 15 is expected to trade around 720 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade around 710 in 12 months time.



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Major Price Day Q4/18 Q1/19 Q2/19 Q3/19
Dow Jones 25,467 80.78 0.32% 26,407 26,103 25,804 25,507
S&P 500 2,748 21.53 0.79% 2,902 2,872 2,842 2,813
NASDAQ 100 6,917 89.93 1.32% 7,582 7,482 7,383 7,285
NASDAQ 7,296 111.05 -1.50% 7,990 7,894 7,800 7,707
S&P MidCap 400 1,852 0.00 0.00% 1,995 1,975 1,955 1,936
US 600 966 11.18 1.17% 1,044 1,033 1,021 1,010
Russell 2000 1,519 30.70 -1.98% 1,678 1,659 1,641 1,623
S&P VIX 19.33 1.12 -1.12% 10.34 9.10 8.01 7.05
US 100 10,407 112.36 -1.07% 10,750 10,641 10,533 10,427
NIKKEI 225 21,811 459.36 -2.06% 23,944 23,633 23,325 23,022
FTSE 100 7,058 5.07 0.07% 7,435 7,368 7,300 7,234
FTSE All 3,875 6.16 0.16% 4,090 4,055 4,020 3,986
DAX 11,482 157.42 1.39% 12,196 12,056 11,919 11,784
CAC 40 5,101 42.69 0.84% 5,456 5,404 5,352 5,300
FTSE MIB 19,242 186.00 0.98% 20,332 20,058 19,786 19,520
IBEX 35 9,150 76.28 0.84% 9,306 9,204 9,103 9,002
Australian All 5,924 6.40 -0.11% 6,249 6,206 6,163 6,121
ASX 200 5,842 6.98 -0.12% 6,121 6,078 6,035 5,992
ASX 50 5,725 2.00 -0.03% 5,960 5,917 5,874 5,832
SHANGHAI 2,655 24.36 0.93% 2,783 2,745 2,708 2,671
CSI 300 3,237 32.24 1.01% 3,386 3,334 3,283 3,233
SHANGHAI 50 2,463 18.01 0.74% 2,565 2,524 2,483 2,443
SENSEX 35,057 244.13 0.70% 35,941 35,632 35,324 35,020
MICEX 2,378 15.73 -0.66% 2,440 2,407 2,374 2,342
TSX 15,156 118.04 -0.77% 16,025 15,918 15,813 15,710
KOSPI 2,071 9.21 -0.44% 2,315 2,291 2,268 2,245
iBovespa 84,583 116.51 -0.14% 76,906 75,608 74,332 73,073
IPC Mexico 43,310 953.73 -2.15% 49,315 48,827 48,344 47,866
AEX 530 3.74 0.71% 548 543 538 533
SMI 9,022 38.33 0.43% 9,038 8,949 8,861 8,775
FTSE/JSE TOP 40 45,833 95.03 -0.21% 48,933 48,288 47,649 47,019
JALSH-All Share 52,110 149.67 -0.29% 55,104 54,428 53,759 53,095
STI 3,054 14.55 -0.47% 3,224 3,193 3,162 3,131
Hang Seng 25,793 159.69 0.62% 27,386 26,988 26,596 26,210
PSI Geral 2,881 31.03 -1.07% 3,102 3,075 3,049 3,022
NZX 50 8,873 22.12 0.25% 9,261 9,196 9,130 9,065
Euronext 100 993 7.23 0.73% 1,054 1,045 1,035 1,026
Euro Stoxx 50 3,224 30.96 0.97% 3,379 3,346 3,313 3,281
NIFTY 50 10,559 76.80 0.73% 10,818 10,723 10,628 10,535

America Price Day Q4/18 Q1/19 Q2/19 Q3/19
Dow Jones 25,467 80.78 0.32% 26,407 26,103 25,804 25,507
S&P 500 2,748 21.53 0.79% 2,902 2,872 2,842 2,813
NASDAQ 100 6,917 89.93 1.32% 7,582 7,482 7,383 7,285
NASDAQ 7,296 111.05 -1.50% 7,990 7,894 7,800 7,707
S&P MidCap 400 1,852 0.00 0.00% 1,995 1,975 1,955 1,936
US 600 966 11.18 1.17% 1,044 1,033 1,021 1,010
Russell 2000 1,519 30.70 -1.98% 1,678 1,659 1,641 1,623
S&P VIX 19.33 1.12 -1.12% 10.34 9.10 8.01 7.05
US 100 10,407 112.36 -1.07% 10,750 10,641 10,533 10,427
Ecuador General Index 1,394 0.98 0.07% 1,394 1,387 1,379 1,371
TSX 15,156 118.04 -0.77% 16,025 15,918 15,813 15,710
iBovespa 84,583 116.51 -0.14% 76,906 75,608 74,332 73,073
IPC Mexico 43,310 953.73 -2.15% 49,315 48,827 48,344 47,866
S&P/BVL Peru General Index TR (PEN) 18,935 145.00 -0.76% 19,382 19,202 19,024 18,846
Merval 29,221 202.43 -0.69% 31,995 31,021 30,078 29,164
IBC 577 8.14 1.43% 341,310 304,944 272,475 243,482
COLCAP 1,401 19.22 -1.35% 1,505 1,491 1,477 1,464
IGPA 26,152 23.78 -0.09% 26,524 26,210 25,901 25,595
BVPSI 460 0.03 -0.01% 457 455 453 451
BSX 2,468 4.99 -0.20% 2,862 2,809 2,756 2,704
JSE 364,377 557.66 0.15% 176,859 85,351 41,191 19,863

Europe Price Day Q4/18 Q1/19 Q2/19 Q3/19
FTSE 100 7,058 5.07 0.07% 7,435 7,368 7,300 7,234
FTSE All 3,875 6.16 0.16% 4,090 4,055 4,020 3,986
DAX 11,482 157.42 1.39% 12,196 12,056 11,919 11,784
CAC 40 5,101 42.69 0.84% 5,456 5,404 5,352 5,300
FTSE MIB 19,242 186.00 0.98% 20,332 20,058 19,786 19,520
IBEX 35 9,150 76.28 0.84% 9,306 9,204 9,103 9,002
MICEX 2,378 15.73 -0.66% 2,440 2,407 2,374 2,342
AEX 530 3.74 0.71% 548 543 538 533
BIST 100 92,709 1,263.28 1.38% 96,783 95,059 93,364 91,709
SMI 9,022 38.33 0.43% 9,038 8,949 8,861 8,775
OMXS 30 1,520 5.68 0.37% 1,649 1,632 1,614 1,597
WIG 20 2,219 13.39 -0.60% 2,251 2,219 2,187 2,156
WIG 56,652 272.08 -0.48% 58,279 57,607 56,947 56,292
Euronext BEL 20 3,549 24.90 0.71% 3,683 3,651 3,619 3,588
Oslo Bors All-Share 986 16.38 -1.63% 1,062 1,052 1,041 1,031
ATX 3,147 14.33 -0.45% 3,326 3,287 3,249 3,212
OMX Copenhagen 925 10.21 -1.09% 967 957 946 936
OMX Helsinki 9,414 32.08 0.34% 10,081 9,983 9,885 9,788
OMX Helsinki 25 3,978 1.62 0.04% 4,269 4,225 4,181 4,137
ISEQ 6,138 11.43 0.19% 6,437 6,380 6,323 6,267
Athens General 644 8.80 1.39% 681 671 660 651
PSI 20 4,956 36.49 -0.73% 5,263 5,213 5,163 5,114
PSI Geral 2,881 31.03 -1.07% 3,102 3,075 3,049 3,022
PX 1,079 2.95 -0.27% 1,090 1,083 1,075 1,067
BET 8,670 8.82 0.10% 8,364 8,287 8,211 8,135
BUX 38,253 144.19 0.38% 36,356 35,836 35,323 34,818
PFTS 608 9.00 1.50% 526 513 502 490
SAX 332 1.71 -0.51% 324 319 314 310
LuxX 1,496 35.14 -2.29% 1,683 1,659 1,636 1,613
CROBEX 1,761 7.06 -0.40% 1,770 1,758 1,746 1,735
SOFIX 594 2.22 -0.37% 621 616 612 607
SBITOP 812 6.15 -0.75% 834 828 821 814
OMX Vilnius 640 2.76 -0.43% 679 673 667 661
BELEX 15 749 4.74 0.64% 722 718 713 709
MSE 4,498 15.75 0.35% 4,354 4,326 4,297 4,269
CSE General 68 0.32 0.48% 72 71 70 70
MBI 10 3,618 37.16 1.04% 3,418 3,385 3,353 3,321
ICEX 1,263 4.21 -0.33% 1,239 1,227 1,215 1,203
Euronext 100 993 7.23 0.73% 1,054 1,045 1,035 1,026
OMX Tallinn 1,190 2.94 -0.25% 1,210 1,202 1,193 1,185
OMX Riga 949 0.99 -0.10% 961 946 932 918
SASX-10 626 4.99 -0.79% 625 618 610 603
Euro Stoxx 50 3,224 30.96 0.97% 3,379 3,346 3,313 3,281
MONEX INDEX 10,878.63 53.18 0.49% 10,353.68 10,253.31 10,153.98 10,055.71

Asia Price Day Q4/18 Q1/19 Q2/19 Q3/19
NIKKEI 225 21,811 459.36 -2.06% 23,944 23,633 23,325 23,022
SHANGHAI 2,655 24.36 0.93% 2,783 2,745 2,708 2,671
CSI 300 3,237 32.24 1.01% 3,386 3,334 3,283 3,233
SHANGHAI 50 2,463 18.01 0.74% 2,565 2,524 2,483 2,443
SENSEX 35,057 244.13 0.70% 35,941 35,632 35,324 35,020
KOSPI 2,071 9.21 -0.44% 2,315 2,291 2,268 2,245
DSE Broad 5,259 19.52 0.37% 5,321 5,272 5,223 5,175
JCI 5,835 58.15 1.01% 5,870 5,796 5,723 5,650
TASI 7,749 25.81 -0.33% 7,960 7,883 7,807 7,731
TAIEX 9,776 55.37 -0.56% 10,938 10,825 10,714 10,603
ADX General 4,967 12.55 0.25% 4,936 4,892 4,849 4,807
SET 50 1,100 4.79 0.44% 1,150 1,138 1,127 1,115
FKLCI 1,688 8.57 -0.51% 1,778 1,763 1,749 1,734
STI 3,054 14.55 -0.47% 3,224 3,193 3,162 3,131
TA-100 1,484 4.16 0.28% 1,472 1,460 1,448 1,436
Hang Seng 25,793 159.69 0.62% 27,386 26,988 26,596 26,210
PSEi 6,844 82.37 -1.19% 7,121 7,021 6,923 6,826
KSE 100 41,152 55.95 0.14% 40,397 39,873 39,354 38,842
KASE 2,220 21.57 0.98% 2,181 2,160 2,138 2,117
QE 10,355 60.41 -0.58% 9,684 9,552 9,423 9,294
HNX 102 0.90 -0.87% 113 111 109 107
VN 905 12.74 -1.39% 995 977 960 943
Kuwait Price 6,633 0.00 0.00% 6,578 6,523 6,468 6,413
SECTMIND 416 0.00 0.00% 412 408 405 401
MSM TOP 30 4,465 14.38 -0.32% 4,502 4,467 4,431 4,396
ASPI 5,994 12.60 0.21% 5,788 5,759 5,731 5,702
Blom 985 0.00 0.00% 965 958 952 945
ASE 1,957 13.25 0.68% 1,971 1,961 1,952 1,942
LSX Composite 841 13.97 1.69% 861 848 834 821
MSE TOP 20 20,390 110.59 -0.54% 19,988 19,596 19,211 18,836
DFM general 2,780 23.26 -0.83% 2,822 2,795 2,767 2,741
NIFTY 50 10,559 76.80 0.73% 10,818 10,723 10,628 10,535
All-Share Index 5,101.77 1.86 -0.04% 5,089.35 5,057.09 5,025.33 4,993.58
Nikkei Volatility Index 22.35 2.75 14.03% 15.42 14.03 12.77 11.63
Estirad 1,304.96 3.40 -0.26% 1,327.31 1,319.57 1,311.96 1,304.35

Australia Price Day Q4/18 Q1/19 Q2/19 Q3/19
Australian All 5,924 6.40 -0.11% 6,249 6,206 6,163 6,121
ASX 200 5,842 6.98 -0.12% 6,121 6,078 6,035 5,992
ASX 50 5,725 2.00 -0.03% 5,960 5,917 5,874 5,832
NZX 50 8,873 22.12 0.25% 9,261 9,196 9,130 9,065

Africa Price Day Q4/18 Q1/19 Q2/19 Q3/19
NSE-All Share 32,153 9.49 0.03% 32,370 31,977 31,590 31,210
FTSE/JSE TOP 40 45,833 95.03 -0.21% 48,933 48,288 47,649 47,019
JALSH-All Share 52,110 149.67 -0.29% 55,104 54,428 53,759 53,095
Egypt EGX 30 13,544 134.72 -0.98% 14,247 14,051 13,857 13,665
Casablanca CFG 25 11,055 65.02 0.59% 11,188 11,109 11,032 10,955
Nairobi 20 2,837 4.05 0.14% 2,853 2,832 2,810 2,788
NSE All Share 147 0.11 0.07% 148 146 145 143
DSEI 2,059 6.15 -0.30% 2,077 2,050 2,022 1,996
TUN 7,234 33.18 -0.46% 7,742 7,688 7,635 7,583
GGSECI 2,668 43.39 -1.60% 2,857 2,831 2,806 2,781
NSX Overall 1,285 0.97 -0.08% 1,292 1,271 1,250 1,229
SEMDEX 2,229 1.44 -0.06% 2,244 2,236 2,228 2,221
Gaborone 7,936 0.00 0.00% 7,804 7,772 7,739 7,706
Zimbabwe Industrial Index 540.80 3.63 0.68% 376.56 366.42 356.59 347.00

TRADING ECONOMICS forecasts are based on its analysts expectations and proprietary global macro models. We work hard to make sure any information we present is accurate and reliable. However, our forecasts are not recommendations to buy or sell nor we are a registered investment adviser. Moreover, the past performance of our models is not necessarily indicative of future results.