On the Zagreb Stock Exchange today, the Crobex index is slightly up, but still below the psychological barrier of 2,000 points, while trading volume is very weak, indicating caution and restraint among investors.
At 12:00 PM, the Crobex index was up 0.26 percent, at 1,999 points. The Crobex10 strengthened by 0.06 percent, to 1,074 points. The regular trading volume amounted to only 5 million kuna, što is seven million less than at this time last Friday. "With extremely low liquidity, the Crobex index is slightly up, but still below the psychological barrier of 2,000 points. Investors are mainly listening to developments on global stock markets and are quite restrained in their investment activities," say the investment company Erste Securities. They add that weak domestic macroeconomic indicators, primarily the data on a 6.6 percent decline in domestic industrial production in April, are prompting caution among investors.
On European stock markets, however, the major indices have slipped into slight negatives after morning gains, as initial investor enthusiasm has weakened, and concerns about the debt crisis in the eurozone are back in focus. On the domestic market, million kuna turnover has so far been achieved only by the HT share, amounting to 3.5 million kuna. Its price weakened by 0.21 percent, to 265 kuna. The Erste Bank share is also in greater focus among investors, with a turnover of 410,000 kuna, and it has increased by more than two percent, to 440 kuna. The reason for this is last week’s announcement that the bank’s majority shareholder, ESB Holding, intends to acquire the remaining shares of the bank, and will propose a price of 450 kuna per share to minority shareholders. (H)
