On the Zagreb Stock Exchange, the trend is still largely determined by events on global stock exchanges, and as the situation there is completely uncertain, analysts today expect uncertain trading on the domestic exchange as well. Out of 10 analysts who participated in Hina’s survey, five expect stagnation of the Crobex today, four expect an increase, and one expects a decline.
The Crobex index fell by 0.77 percent yesterday, to 1,777 points, and the regular trading volume of shares amounted to a modest 20.55 million kuna. The sudden reversal of the trend yesterday on European exchanges, which occurred after the Royal Bank of Scotland (RBS) reported that it recorded the largest loss in British corporate history last year, caused negative sentiment on the domestic exchange as well, says Saša Vakula, an investment advisor at the brokerage firm Argus Securities. “We are again mainly following trends on global exchanges. Today we expect stagnation, and possibly a slight increase in prices. Everything currently depends on the activity of small investors, as large ones are not active for now,” emphasizes Vakula. On Asian exchanges, stock prices fell sharply this morning as investors fear that problems in the global financial system will deepen the recession, with bank stocks under the most pressure. On the Tokyo Stock Exchange, the Nikkei index plunged 2.3 percent this morning.
