Macedonia Stocks Plummet, Limits Set

Skopje, 21 Nov. 2008 – Macedonia’s flagship stock index dropped almost 7.9 percent in early trading on Friday, leading bourse authorities to impose daily trading limits of up/down 5.0 percent for the second time since the global financial crisis broke out in October.

The MBI 10 Index of Macedonia’s ten strongest domestic companies was down by 7.88 by noon on what traders said was fallout from the negative sentiment in other European markets. The MBID index of publicly owned companies dropped by 4.92 percent and the country’s Bond Index was down 0.39 percent.

The MBI 10 index, which posted strong gains in 2007, has fallen by a total of 67 percent this year, with losses of as much as 8.6 percent on a single day in October.

Contributed by Balkaninsight

Short URL: http://www.albanianeconomy.com/news/?p=782

Posted by admin on Nov 21 2008. Filed under Region. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry