The Decline of Crobex Continues, T-HT Shares Drop to 366 Kuna

Most of the most liquid stocks on the Zagreb Stock Exchange started the new week with negative price corrections. The biggest losers of the day are again the shares of the construction sector, followed by Veterina and Ericsson Nikola Tesla.

The situation on the Zagreb Stock Exchange, which exceptionally concluded trading last week on Wednesday due to a holiday, has not shown signs of calming with the start of the new week. The most liquid stocks are again recording significant declines today, raising the question of whether the current situation is an indication, as some analysts claim, of the beginning of a period of investor pessimism.
The definite loser of the day is the Institute of Construction of Croatia, whose shares were even temporarily suspended from trading today.

IGH ended the day with a loss of 7.07 percent. Thus, the shares of the company, which absurdly announced nine-month results that are fifty percent better than the same period last year, fell below the threshold of 13 thousand kuna. Ina recorded a decline of 2.40, and although trading concluded below 2,600 kuna, the average price remained at the threshold of 2,601 kuna. Today’s total turnover for Ina amounted to just over 14 million kuna.
Ericsson Nikola Tesla also experienced a decline of 4.31 percent despite announcing the conclusion of new contracts worth 22 million dollars, which only shows the immaturity of domestic investors, who generally do not react to changes in the business of the companies whose shares they own.

The share of T-HT continued the decline recorded last week, and trading concluded at a price of 366 kuna, which is 0.68 percent lower than last week, with 58 thousand shares traded for a total value of just over 21 million kuna. The turnover on the London Stock Exchange was 5 times lower, and 11,800 THTC GDRs changed hands, while the current price is 72 dollars per share. The Veterina share was traded today at an average price of 110.85 kuna (5.35 percent lower than on Wednesday), and significant declines were also recorded by Atlantska plovidba (5.96 percent lower) and Dalekovod (3.90 percent lower). The only winner in the construction sector is the share of Ingra, which recorded a growth of 1.36 percent, with a weak turnover of only 5 million kuna.  (Amir Kulenović)

*The author and his family own shares of T-HT.