Yesterday’s jump in the Crobex index of nearly 6 percent and the further rise in stock prices on Wall Street have sparked a bit of optimism, so most analysts today expect a continuation of rising stock prices on the Zagreb Stock Exchange.
Of the eight analysts from brokerage firms who participated in Hina’s survey, five expect an increase in Crobex today, two expect stagnation, and one expects a decline. The Crobex index jumped 5.95 percent yesterday to 1,631 points, the highest level since November 27. “A bit of optimism from global markets spilled over to the Zagreb Stock Exchange yesterday. Stock prices on Wall Street have been rising strongly for two consecutive days, so it would be nice if we followed suit,” say Argus Securities. After a jump of more than 3 percent on Friday, leading indices on the New York Stock Exchange rose again by more than 3 percent yesterday, thanks to investors’ hopes that the announced large investments in infrastructure and assistance to the automotive sector will alleviate the recession in the U.S. economy.
Yesterday, in addition to prices, trading volume also increased on the Zagreb Stock Exchange. After only 19 million kuna last Friday, regular trading in shares reached 34.7 million kuna yesterday. “After the lowest trading volume on the exchange in the last two and a half years was recorded on Friday, it improved yesterday, which instills hope. However, what will happen today on the Zagreb Stock Exchange will depend on developments in European markets. If they go green, so will we. If, however, stock prices in Europe fall, it is likely that we will too,” say Argus Securities.
