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Crobex Holds Above 3,000 Points

Although the morning indicated that we would break the psychological barrier of 3,000 points, afternoon trading brought some improvement. Among the more liquid stocks, only Podravka, whose shares have been purchased in recent days by the pension fund PBZ-Croatia Osiguranje, managed to record a price increase.

The stock index Crobex today weakened by 3.16 percent, closing at 3,020 points. Trading volume on the stock exchange was again above average at 109 million kuna, and the mood was once again one of panic selling. The HT stock fell to 250 kuna, the lowest level since its listing last November. Croatian telecommunications traded at a total of 21.2 million kuna, and the price is 3.07 percent lower than the closing price on Wednesday. Although it was in positive territory for a good part of the day, even Ina could not resist the pervasive pessimism imported from abroad. Ina traded at 17.2 million kuna with a price drop of 0.27 percent. However, the price of Ina’s stock remained just five kuna higher than that offered by Mol.

Since builders lead in liquidity as a sector, their stocks recorded the largest decline today. Ingra is down 6.92 percent (9.5 million kuna in trading), IGH down 2.31 percent (5.2 million kuna in trading), and Dalekovod down 4.97 percent (2.5 million kuna in trading). The BDI index finally rose by two percent after several weeks of decline, but domestic shipowners did not feel it – Atlantska plovidba is down 1.91 percent (8.7 million kuna in trading), and Uljanik plovidba down 0.72 percent (1.6 million kuna in trading).

Today, the HFP decided to sell the Županja Sladorana to Viro, not to the Osijek Kandit. This was reflected in their stocks – while Viro recorded a decline of “only” 2.71 percent (1.9 million kuna in trading), Kandit’s stock fell by as much as 8.83 percent (1.3 million kuna in trading). After another panic day in the US, the local stock exchanges opened today with a slight increase in indices. Since the domestic market has been exclusively following external signals in recent days, tomorrow in Zagreb could be a much calmer day than today. (Amir Kulenović)

*The author owns shares in HT.