A high turnover of 63 million kuna today at least somewhat comforted investors. Crobex ended with a decline of 0.8 percent, and despite the high turnover, only five stocks had more than one million kuna in turnover. The only stock that increased today was HT.
Although today’s turnover on the stock exchange is science fiction compared to the past month, the fact is that more than 60 percent of trading is accounted for by just two stocks. The hit of the day was definitely Zagreb Brewery with 28.2 million kuna in turnover and a price drop of as much as 13.67 percent. Since nothing significant is happening with the operations of this company, the high turnover indicates profit-taking by investors. Following with 12.9 million kuna in turnover is the HT stock, which is the only one among the more liquid stocks that recorded a slight price increase of 0.02 percent.
The price increase can be attributed to today’s announcement of the business results to be published at the end of the month and the dividends expected primarily by small investors. Atlantska plovidba lost 1.96 percent of its value today with a total turnover of 2.4 million kuna. The Podravka stock had a turnover just fifty thousand kuna lower, which weakened by 1.47 percent. The last millionaire of the day with just over one million kuna in turnover was the Adris stock, which fell by 2.44 percent.
Ingra announced today that the recapitalization of 150 million kuna has failed due to weak investor interest, which investors punished with a price drop of 1.56 percent. Their competitor IGH experienced an even greater price drop of 2.97 percent. Both stocks traded in amounts slightly above half a million kuna. (Amir Kulenović*)
*The author owns shares of HT.
