It is uncertain how the Crobex index will move today on the Zagreb Stock Exchange as analysts say there is a clear lack of enthusiasm among investors since the economic recovery is not yet in sight, unclear signals are coming from the world, and the technical picture of the market does not exude optimism.
Of the 12 analysts from brokerage firms who participated in Hina’s survey, six expect a continuation of the Crobex growth today, three expect stagnation, and the same number expect a decline. The Crobex index gained 0.72 percent yesterday after three days of decline, closing trading at 2,085 points. At the same time, Crobex10 rose by 0.74 percent to 1,083 points. Regular trading in shares amounted to 27.5 million kuna, which is about one million kuna more than the previous day. “Bad news from the domestic economy creates negative sentiment in the domestic capital market, so it is hard to expect that it will soon emerge from the negative trend that has lasted since mid-October. Therefore, I expect stagnation in stock prices today,” says Zvonimir Marić, a member of the Management Board of the brokerage firm K.D. Asset Management.
Hina’s survey shows that, in addition to the most liquid issues, greater focus from investors is also possible on Podravka shares, as the media continues to report that this company could be a target for acquisition. “Acquisitions should generally not be undertaken at the peaks of economic cycles, but when problems arise caused by economic crises, scandals, bankruptcies, and restructuring needs, as that is when there is an opportunity for a cheap purchase. Speculations about acquisitions always fuel investor interest in the shares of companies that could be targets. In the longer term, the continuation of the privatization process is also possible, given the state of the state treasury, so there could also be opportunities for investors,” concludes Marić.
