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Investors Uninterested, Investment Funds Lack Money

Trading on the Zagreb Stock Exchange is currently slow, as investors are quite uninterested, investment funds lack money, and everyone is seeking safer havens for their capital.

Currently, Crobex stands at 2,008 points, što je 2,06 posto manje nego jučer. Nalazi se na najnižoj razini od 11. siječnja 2006. godine, kada je iznosi 2.006 bodova. Redovni promet dionicama do 13 sati iznosi je otprilike 27 milijuna kuna. "Trading is slow because investors are quite uninterested, investment funds have little money, and everyone is looking for safer havens for their money due to global significant uncertainty," describes the situation on the domestic stock exchange Diana Knezović, a broker and investment advisor at Ilirika Securities.

She adds that everywhere in the world, investors have recently shown a significant aversion to risk and are pulling back their capital. On European stock exchanges, stock prices are currently moving variably, with the London FTSE index down 1.2 percent, while the Frankfurt DAX and Paris CAC are slightly up. Only six issues have so far achieved million kuna turnovers on the domestic market. The most liquid stock is T-HT, with a turnover of 6.8 million kuna, and a price drop of 1.77 percent, to 216 kuna.

Next is the stock of Atlantska plovidba, with a turnover of nearly four million kuna, and a price drop of 4.5 percent, to 790 kuna. The stocks of Ingra and the Institute of Construction of Croatia (IGH) achieved just over two million kuna in turnover. Meanwhile, Ingra’s stock is down 2.74 percent, to 112 kuna, and IGH’s stock is down 1.94 percent, to 6,001 kuna. Among the more liquid stocks are Dalekovod, which records a price drop of 2.82 percent, to 496 kuna, and the stock of Ericsson Nikola Tesla, with a price drop of 2.25 percent, to 1,200 kuna. Both stocks achieved turnover above one million kuna.

A somewhat more pronounced drop of 7.34 percent is recorded by the stock of INA, which is traded at 1,438 kuna. Additional pressure on the price drop of INA’s stock, besides the general mood on the stock exchange, is the plunge in oil prices on global markets from record July levels of 147 dollars to below 55 dollars per barrel, says Knezović. A larger drop is also recorded by the stock of Kutina’s Petrokemija, down 7.13 percent, to 147 kuna. "The question of the stock market’s recovery is related to the issue of liquidity. Given the financial crisis in the world, the availability of money is currently questionable," concludes Knezović. (H)