At the Zagreb Stock Exchange, analysts expect today, the last trading day of this year, mild optimism among investors and a rise in the Crobex index.
All seven analysts who participated in Hina’s survey expect an increase in the Crobex today. The Crobex index weakened by 2.08 percent yesterday, to 1,716 points. Since the beginning of the year, it has been down more than 67 percent. Regular turnover amounted to just under 28 million kuna.
“Today’s shortened trading day at the Zagreb Stock Exchange might see a similar scenario as last Wednesday. It is the last day of the year, so a slight price increase is likely,” says Goran Vorkapić, broker and investment advisor at the brokerage firm To One. It is possible that major players will try to ‘beautify’ their portfolios a bit on the last trading day of this calendar year, Vorkapić believes. As he points out, yesterday’s drop in the Crobex was somewhat expected after several weeks of mild optimism on the stock exchange.
On Wall Street, leading indices rose more than 2 percent on Tuesday thanks to increased aid to the auto industry, which sparked hope among investors that U.S. authorities will continue to do everything they can to mitigate the recession. However, trading volumes are low, as most investors are absent. The Tokyo Stock Exchange was closed today due to a holiday. “There has been clear stagnation in global markets lately. Currently, stock market movements are most affected by large fluctuations in exchange rates, which impact returns on stock investments,” Vorkapić assesses.
The Zagreb Stock Exchange operates today until 1 PM, and the first next trading day is January 5, Monday. (H)
