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The Largest Increase of Crobex Since 1997

The stock index today regained what was lost on Friday and even more. With a turnover of 116 million on the official market, Crobex increased by as much as 15.93 percent today. On the wings of good news from around the world, few liquid stocks escaped a halt due to excessive price increases.

The only stock among the more liquid ones that defied the market today was Istraturist, whose stock fell by 7.97 percent. Crobex ended the day at a closing value of 2,561 points, representing an increase of 15.97 percent. Following the global stock markets as in previous days, investors today showed unprecedented optimism. The most liquid stock was HT with a turnover of 19.4 million kuna and a price increase of 12.24 percent, closing at 241.9 kuna. After HT, the highest turnover was achieved by the stock of Atlantska plovidba, which increased by as much as 25.73 percent. Other construction companies also experienced similar increases – Tankerska plovidba rose by 27.94 percent (2.2 million kuna turnover), and Uljanik plovidba by 30.26 percent (1.2 million kuna turnover). The construction sector had the highest increase, averaging 25 percent. IGH increased by 29.28 percent (7.4 million kuna turnover), Ingra by 30.38 percent (4.2 million kuna turnover), Dalekovod by 25.44 percent (3.7 million kuna turnover), and Viadukt by a modest 16.87 percent today (1.2 million kuna turnover).

After construction and shipping, the banking sector also had a significant recovery – the PBZ stock is up by 33.81 percent (1.8 million kuna turnover), and Zabe by 20.29 percent (1.2 million kuna turnover). The stock of Ina, which is traded very little due to a small free float following a very successful public offering by Mol, had the smallest percentage increase. With a turnover of only one million kuna, Ina is up today by “only” 7.62 percent, closing at 2,225 kuna. The only stock among the more liquid ones that recorded a price drop today was Istraturist, which, with a turnover of 6.5 million kuna, experienced a decline of 7.97 percent. Due to a broad action by the most developed, mostly European countries, stock indices have significantly increased worldwide. Let us hope that this global initiative represents a rescue for the global financial system, which has proven to be extremely vulnerable. (Amir Kulenović)

*The author owns shares in HT.