After institutional investors accepted MOL’s offer of 2,800 kuna, the price of INA’s shares has today dropped by as much as 6.55 percent. The stock index has again fallen below 3,000 points with relatively low trading volume of 62 million kuna. The largest increase among millionaires was recorded by TOZ shares, which rose by 4.57 percent.
As the authorities in the U.S. have still not agreed on a final plan to rescue the financial industry, and with global indices, today Crobex has plummeted by 2.03 percent. The most liquid was Podravka’s share with ten million kuna in trading volume and a price drop of 2.82 percent. The share of the Croatian Institute of Construction had a trading volume of 8.6 million kuna and a price drop of 0.15 percent.
HT shares were traded for a total of 7.7 million kuna, and the closing price of 256.9 million kuna is 0.79 percent lower than yesterday’s. Despite a slight decline in the BDI index today, the shares of Atlantska plovidba rose by 0.44 percent with a trading volume of 6.6 million kuna.
INA’s shares behaved the strangest in today’s trading. Instead of stabilizing at the price of 2,800 kuna, as the majority of shareholders will now accept the public offer, INA’s shares fell by 6.29 percent to a closing price of 2,550 kuna with a trading volume of 5.9 million kuna. Since the purchased shares cannot be submitted to MOL for the public offer due to the settlement system, this price is now logical.
The largest price increase today among the more liquid shares was recorded by TOZ with a price increase of 4.27 percent and a trading volume of 1.2 million kuna.
The stock exchanges in the U.S. have again started the day in the red, as Congress has still not approved the $700 billion bank rescue plan. Given that the situation remains uncertain, it seems that another pessimistic day awaits us tomorrow. (Amir Kulenović)
*The author owns shares in HT.
