Revenue of only 3.2 million kuna, T-HT the only millionaire

Extremely low trading volume, along with a slight decline in Crobex, indicates that today investors on the Zagreb Stock Exchange lack trading direction, and since Wall Street is closed, significant movements are unlikely by the end of the trading day.

The Crobex index at 1:00 PM was down 0.08 percent, amounting to 2,156 points. At the same time, Crobex10 weakened by 0.38 percent, to 1,131 points. Regular trading in shares reached only 3.2 million kuna, što is about 15 million less than on Friday at the same time. "We are indeed recording one of the weaker trading days on the domestic market, with a turnover barely exceeding three million kuna, and only one share with a million turnover. Investors lack direction, and since Wall Street is also closed today, significant movements on the domestic stock exchange are unlikely by the end of trading," emphasize the investment company Erste Securities. For now, the only millionaire is the T-HT share, which achieved a turnover of 1.04 million kuna. Its price slightly decreased by 0.36 percent, to 294 kuna. Among business news, speculation about a possible takeover of Podravka and the interest of the Atlantic Group attracts the most attention in the domestic market.

The Croatian Financial Services Supervisory Agency (Hanfa), reacting to media reports about the purchase of Podravka, ordered the Zagreb Stock Exchange this morning to immediately temporarily suspend trading in Podravka shares. At the same time, Atlantic Group informed the Zagreb Stock Exchange this morning that it is not conducting any procedures that could be considered negotiations for the takeover of Podravka. The exchange sent an inquiry to Atlantic Group following an article in today’s Jutarnji list, in which the newspaper quotes the head of Atlantic Group, Emil Tedeschi, stating that Atlantic has the funds to acquire Podravka and could carry out the transaction if such a situation arises. The article titled "Emil Tedeschi: Mr. Friščić, how much for Podravka?" also quotes the CEO of Podravka, Miroslav Vitković, stating that those who wish to buy Podravka should offer a thousand kuna per share. In the explanation of its decision, Hanfa states that the article discusses an offer to purchase Podravka shares and highlights a price that is three times higher than the price quoted on the stock exchange, so it is necessary to verify the credibility of the conveyed information.

Before the blockade, the price of Podravka shares rose by 2.56 percent, to nearly 359 kuna. At the same time, the price of Atlantic Group shares fell by one percent, to 686 kuna, with very low turnover, below 30,000 kuna. "The media has pompously announced news about the takeover of Podravka, but for now, we do not have clear information about the background of the whole story for the Koprivnica company, so it is difficult to assess how this will develop further," say Erste Securities. On European exchanges, the main indices are currently up about half a percent, thanks to speculation that numerous acquisitions and mergers are expected in the corporate sector in the coming months. From Wall Street, however, there are no directions today, as the American market is closed due to the holiday. (H)