CEE Stock Exchange Report for November 11 – November 15

By: The Quinnipiac University Economics Research Team, Jack French

Source: Own calculations based on data collected from each index.


The Slovakian SAX was once again closed to trading for three days this week. Last week the index was closed on Monday, Thursday, and Friday while this week the only trading days were Thursday and Friday. The SAX finished almost completely flat for the week after dipping on Thursday and recovering on Friday. The US S&P closed at a record high for the third Friday in a row after posting a gain of just over one percent this week. The UK FTSE, down about a third of a percent, continued its recent losing streak.


During a generally poor week for the region, the Hungarian BUX once again topped the Central European indices and posted a gain of eight tenths percent. The remaining indices moved pretty similarly but were all negative for the week.


Losing about one percent, the Polish WIG 20 was down the most on the week. The UK FTSE, Slovakian SAX, Czech PX, and Romanian BET all fell within the range of just about level to down about a third of a percent.

Source: Own calculations based on data collected from each index. The first graph shows the previous week’s performance. The remaining graphs show the three-month performance of each of the indices.


The three month return for each of indices except Slovakia remains positive. A number of the indices now have three month returns in the five to ten percent range. The biggest outlier is Slovakia whose return is a loss of about one percent since mid-August.


The US has continued a recent period of strong growth which has been shared mainly by the Hungarian BUX and Czech PX. The Romanian BET no longer appears as big of an outlier for the region. This is mainly due to the recent gains of the other major indices as well as the shifting of the three month window as it changes each week.


Looking forward it will be interesting to track how the SAX does in relation to the other CEE indices and how long the US maintains its record setting pace.

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