On the Zagreb Stock Exchange, a continuation of index stagnation is expected today with low trading volumes, and in somewhat greater focus for investors, alongside Belišće and construction companies, could be the shares of Ericsson Nikola Tesla, as the company’s business report for 2009 is awaited.
Of the 12 analysts from brokerage firms who participated in Hina’s survey, seven expect stagnation of the Crobex today, three expect an increase, and two expect a decline. The Crobex index closed trading yesterday at 2,160 points, unchanged from the previous day. At the same time, Crobex 10 strengthened by 0.19 percent, to 1,149 points. Regular trading in shares amounted to 15.6 million kuna, which is three million kuna more than the day before. “I expect stagnation of the index on the domestic market today with low trading volumes, and in somewhat greater focus for investors could be the shares of Belišće due to the announcement of a takeover, as well as construction companies, depending on the development of the situation with the domestic consortium’s work on the construction of the highway in Montenegro,” says Zvonimir Marić, a member of the Management Board of the brokerage firm K.D. Asset Management. Austrian Duropack announced yesterday a takeover bid for Belišće, causing the price of that share to jump by 9.7 percent, to 505 kuna, with a turnover of 2.44 million kuna.
All news related to the work of the domestic construction consortium on the construction of the Bar-Boljare highway will also be closely monitored today. Split’s Konstruktor, along with IGH and Tehnika, has a deadline until tomorrow to submit the necessary guarantees to the Montenegrin government. Marić emphasizes that the shares of Ericsson Nikola Tesla could also attract investor attention if the company surprises investors today with its business results or the proposed dividend amount. Ericsson Nikola Tesla announced the release of its business results for 2009 at a press conference at 10:30 AM. Recall that in the first nine months of last year, Ericsson Nikola Tesla achieved total revenues of 1.07 billion kuna, which is 21.6 percent lower than in the same period of 2008. The net profit was 79.6 million kuna, or 25.4 percent lower. For 2008, the company paid out 20 kuna in regular and 50 kuna in extraordinary dividends per share. Technical analysis shows that the Crobex index, after a decline of 23 points since the beginning of this week, has returned to the previously established support zone of 2,130 to 2,160 points. “The breakout and reaching of 2,186 points last week were not accompanied by a larger trading volume, so the impetus for higher levels was absent. Only closing above 2,220 points can we expect higher levels. The first support is the lower line of the mentioned channel at 2,130 points, while the second, in case of a breakout, is at 2,070 points. Indicators currently reflect a negative sentiment, so with reduced liquidity today and tomorrow we should not see larger shifts, but testing of the first support is possible.
