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Unexpectedly Optimistic Mood at the ZSE

Completely unexpectedly, today an optimistic mood has prevailed among investors at the Zagreb Stock Exchange, leading to a strong increase in stock prices, and the Crobex is rapidly approaching the psychologically important threshold of 2,000 points.

At 1:00 PM, the Crobex index reached 1,982 points, što is 2.35 percent higher than yesterday. This marks its largest daily percentage increase since September 15, when it gained 2.63 percent. The Crobex10, on the other hand, strengthened by 2.73 percent to 1,049 points by 1:00 PM. Regular trading amounted to 17 million kuna, double what it was yesterday at this time. "Somewhat unexpectedly, today stock prices on the domestic market have risen sharply. Clearly, after a prolonged negative price correction, there has been a ‘bounce back’. Investors have reacted after što the Crobex approached 1,900 points yesterday," says Roman Rinkovec, investment advisor at the brokerage firm Credos.

The most liquid stock is T-HT, with a turnover of 8.11 million kuna and a price jump of 1.28 percent to 273.16 kuna. Among the millionaires, the IGH stock has also made the list, with a turnover of 2.6 million kuna. Its price jumped by more than five percent to 2,650 kuna. Other stocks in the construction sector are also recording significant price gains. Thus, the Dalekovod stock increased by 3.24 percent to 328 kuna, Ingra by 3.38 percent to 40.95 kuna, and Tehnika by two percent to 1,460 kuna. The Atlantska plovidba stock is close to a million kuna in turnover, with its price rising by 3.15 percent to 955 kuna. Stocks of other shipping companies have increased by more than five percent, with Uljanik plovidba currently trading at 605 kuna and Jadroplov at 163.9 kuna.

"The atmosphere at the stock exchange has brightened this morning, attracting the attention of a larger number of investors. Today, finally, Santa Claus has visited our market," concludes Rinkovec. And on global stock exchanges, investor sentiment has continued to be positive today. The major European stock indices are up between 0.4 and 1.12 percent, primarily thanks to rising stock prices in the banking and oil sectors. U.S. futures indices also indicate a continuation of positive trading today on Wall Street, as investors await the release of the final data on U.S. GDP for the previous quarter and data on existing home sales. (H)