Most Liquid Share of Končar Measuring Transformers

Significantly lower fluctuations in stock prices and somewhat lower trading volumes today on the Zagreb Stock Exchange indicate a calming of investor sentiment following last week’s most turbulent period on the exchange to date. Currently, Crobex stands at 2,589 points, which is 2.29 percent higher than on Friday at the market close.

Regular trading in shares reached 34 million kuna by 1 PM. "The market today is characterized by moderately calm sentiment. The trading volume is significantly lower than last week, which was to be expected as investor sentiment stabilizes. A similar situation is observed on global exchanges today," say representatives from the investment company Erste Securities. If the financial reports of domestic companies, which will be published in the coming days, indicate a continuation of their good performance, this could further stabilize the market and restore investor confidence, they believe in that investment company.

Currently, the most liquid share is that of Končar Measuring Transformers, with a turnover of 10.4 million kuna. The price of that share has increased by 5.26 percent, to 1,600 kuna. Following in liquidity is the share of Atlantska Plovidba, which achieved a turnover of 5.7 million kuna. Its price is down by 3.37 percent, at 1,220 kuna. The share of T-HT, with a turnover of 3.13 million kuna, has decreased by 0.69 percent to 247 kuna. A somewhat higher turnover today was also recorded for the share of Viadukt, amounting to 576,954 kuna, and its price increased by 2.26 percent, to 700 kuna.

That company today reported a signed contract worth 88 million euros for the modernization of the Nalut-Ghadames road in Libya. The deadline for the execution of works is 24 months. As noted by Viadukt, they are also negotiating new contracts in the road construction sector in that market. The fact that the market has calmed down after last week’s significant turbulence is also indicated by the data that currently only the share of Jamnica is in positive blockage due to a price increase of more than 10 percent. Its price has risen by 30.77 percent, to 51,000 kuna.

During the morning, the share of Končar Distribution and Special Transformers was also in positive blockage, while the shares of HTP Korčula and EIG were in negative blockage. "As is usual after significant turbulence, the market calms down. Investors are awaiting the resolution of the global financial crisis and want to see its effects on the real economy. We see that the money from the sale of shares of INA to the Hungarian MOL has not rushed to the market, as investors are cautious about the situation in the global economy," emphasizes Zvonimir Marić, a member of the Management Board of K.D. Asset Management.

The price of INA’s share has significantly increased today, by 6.42 percent, to 2,549.8 kuna. As Marić points out, there are speculations in the market that MOL will not be able to reach an agreement with the Croatian Government regarding the exchange of shares. This, in turn, opens up space for some speculators for potential additional profit, as they assume that MOL may decide to acquire part of the remaining INA shares on the market to reach a 51 percent ownership stake.  (H)