Ine Stock Up Five Percent

After a positive start to today’s trading, primarily thanks to the strong performance of Ine’s stock, the mood on the Zagreb Stock Exchange has eased, and investors have decided to take a breather from buying.

The Crobex index is down 0.24 percent by 1:00 PM, at 2,141 points. The Crobex10, on the other hand, has weakened by 0.12 percent, to 1,124 points. Regular trading amounted to 14 million kuna, što je otprilike 3,5 milijuna više nego jučer u isto doba."Today’s trading on the domestic exchange started nicely, mainly thanks to Ine’s stock. The Crobex reached 2,160 points during the morning, and the Crobex10 reached 1,136 points, but later the good mood eased," says Roman Rinkovec, an investment advisor at the brokerage firm Credos. Currently, the most important indices on European exchanges are slightly down. U.S. futures indices also indicate a slightly negative start to today’s trading on Wall Street, following yesterday’s price jump to the highest level in the last 13 months.

"The U.S. S&P 500 index has surpassed 1,100 points, što je pozitivan signal. If it remains above this psychological barrier, and the futures indices so far, although in the red, indicate this, a continuation of price growth on the U.S. and other major global exchanges is possible, despite being at 13-month highs," says Rinkovec. However, he adds that movements on foreign exchanges are currently not significantly affecting the mood of domestic investors."In the past three trading days on our market, we have seen a rise in stock prices, and today investors have taken a slight break. We hope that after this, the market will continue to move in a positive direction," Rinkovec notes. The highest turnover so far has been achieved by T-HT’s stock, amounting to 3.4 million kuna. Its price has slightly weakened, by 0.02 percent, to 270 kuna. Stocks from the oil sector are still in greater focus for investors today.

Ine’s stock has achieved nearly three million kuna in turnover, and its price has jumped by more than five percent, to 1,773 kuna. During trading, its price reached 1,849 kuna. The reason for the increased interest from investors continues to be media speculation that the Russian oil company Surgutneftegas could acquire MOL’s 47.2 percent stake in the domestic oil company in exchange for its 21.2 percent stake in the Hungarian oil company. Million kuna turnover has also been achieved by the stock of the Adriatic Pipeline, with its price currently slightly up, by 0.31 percent, to 3,250 kuna. During the morning, it reached 3,294 kuna. Stocks of Atlantska Plovidba and IGH have also made it among the millionaires. Meanwhile, the price of Atlantska Plovidba’s stock has fallen by 2.92 percent, to 1,089 kuna, and IGH by 0.82 percent, to 3,400 kuna. (H)