1. A short history of the MSE Index (MBI10).
COMPOSITION AND METHODOLOGY OF THE MBI 10 INDEX
Since 01.11.2001 Macedonian Stock Exchange has started the calculation of the Macedonian Stock Exchange Index - MBI, consisted of the five most liquid shares on MSE: Alkaloid AD Skopje, Evropa AD Skopje, Komercijalna banka AD Skopje, Makpetrol AD Skopje and Toplifikacija AD Skopje. MBI was price, non-weighted index, which, as a first stock exchange index in Macedonia has served its function of an aggregate indicator for quantification of the stock exchange movements. After several years of development of MSE, the introduction of a new, weighted index was eligible.
Therefore, since 04.01.2005, the new index MBI10 was introduced, which is a price index weighted with the market capitalization. MBI10 is calculated according to the Methodology for calculation of the Macedonian Stock Exchange Index - MBI10. It is consisted of up to 10 listed ordinary shares, chosen by the Stock Exchange Index Commission, according to the criteria from the Methodology. The Commission performs regular (twice a year) and extraordinary (if extraordinary circumstances occur) revisions to the index.
The Stock Exchange Index Commission has decided that the first ten shares-components of MBI10 are: Alkaloid AD Skopje, Toplifikacija AD Skopje, Komercijalna banka AD Skopje, Makpetrol AD Skopje, Fersped AD Skopje, Stopanska banka AD Bitola, Granit AD Skopje, Makedonijaturist AD Skopje, Evropa AD Skopje and Ohridska banka AD Ohrid. Base of the index, valued 1.000, is 30.12.2004.
With the start of the calculation of MBI10, MSE has stopped the calculation of the old index MBI. On the last day of its existence the value of MBI was 1.350,23, which is an increase of 35% compared to the day of its introduction.
2. Composition of the index
3. For details about methodology click here…