Related to last development of the activities regarding Macedonia accession into NATO and such influence over the trading with securities on the MSE on April 3rd 2008, Board of Directors of the MSE held urgent session and brought certain conclusions which are disclosed to the public.
- Board of directors of the MSE took into consideration situation with trading with securities on April 3rd, 2008 and concluded that the main MSE index- MBI 10 ended with highest daily decrease of 8,4%, ever. Board of directors also concluded that timeframe of the events related to the Macedonia accession into NATO was well know information for all investors for a longer period of time. The latest marker analyses proves that despite highest index fall on an daily basis, daily turnover of the MSE on April 3rd, 2008 is 76,7 millions denars, which is among 5 top turnovers per trading days in 2008. Also, Board of Directors stated that trading with individual securities on this date, generally was done without particularly emphasize marker disbalance, i.e. there are sell as well as buy orders on the market.
- Because of the stated reasons, the MSE Board of Directors made a conclusion that trading on the Exchange on Friday, April 4, 2008, will continue according to the current Trading Rules that are in force, accepted by the Security and Exchange Commission, with which during the trading day the MSE was in constant communication. The MSE Board of Directors conclusion is also based on the fact that in the last few years (when the Stock Exchange recorded a record high increase of the security’s prices and volume) in the MSE Trading Rules were introduced several mechanisms that aimed to establish a fair price setting, which are very important at this moment, and minimizing the possible large price oscillations in upper and lower boundaries (introduced price limitations, setting a “base price” and minimum accepted quantity etc.)
- Boards of Directors, once again, pointed that worldwide experience proves that on middle and long-term period, determining factors which move securities prices are operational and financial performance of the companies, their current conditions and future prospective. All other circumstances, including final result of the NATO Summit in Bucharest, do not have direct impact on the companies operation, but, primary, reflect the time dynamic of the price movements on the market.
- Board of directors shall monitor market situation on a continuous daily basis and shall undertake activities accordingly.
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