In Focus: Investors in Končar Elektroindustrija Shares

With the decline of Crobex, today’s trading on the Zagreb Stock Exchange is marked by somewhat higher turnover than usual for the beginning of the week, with the throne of the most traded stock occupied by Končar Elektroindustrija shares.

The Crobex index at 12:00 was down 0.76 percent, at 1,841 points. At the same time, Crobex10 was down 0.96 percent, at 982 points. Regular trading in shares amounted to 12.7 million kuna, što je oko 7,5 milijuna više nego u petak u ovo doba. “In the absence of guidance from the domestic economy, it seems that Crobex is today ‘processing’ the sharp decline in stock prices on Wall Street that occurred on Friday. The surprise is the stock of Končar Elektroindustrija, which has taken the throne of the most traded stock of the day from HT,” emphasize the investment company Erste Securities.

By noon, the trading volume of Končar Elektroindustrija shares reached 10.5 million kuna. Its price is 0.4 percent lower, amounting to 455 kuna. So far, more than 20,000 Končar shares have been traded, through block transactions of 10,000 shares, indicating that these are transactions between funds. Among the millionaires, the HT stock also made the list, with a trading volume of 1.07 million kuna, and a price drop of 0.14 percent, to 255.75 kuna.

Currently, the stock of Đuro Đaković Holding is in positive blockade, with its price jumping by 11.5 percent, to 31 kuna, which is its highest level since June 4, when it was 33.3 kuna. The reason for this is a state guarantee of nearly 37 million euros for the continuation of work with the Finnish Patria related to the production of 126 armored combat vehicles for the Croatian Army. During her visit to the company on Friday, Prime Minister Jadranka Kosor also announced that Đuro Đaković could soon sign a contract for the production of 100 wagons for Croatian Railways.

In positive blockade are also the shares of HG Spot, due to a price jump of more than 15 percent, and Varteks, which have increased by more than 20 percent. Trading on European exchanges started this morning with losses, triggered by a decline in stock prices on Wall Street on Friday of about 3 percent and today’s downgrade of Ireland’s credit rating. However, by noon, the major indices changed direction and are currently slightly up, primarily thanks to the rise in mining stock prices.

Among today’s important news is the call from the Croatian Privatization Fund (HFP) for a public auction for the sale of regular shares of 21 companies from its portfolio and the portfolio of the Croatian Health Insurance Institute (HZZO), which will be held on July 26 and 27 via the electronic system of the Zagreb Stock Exchange. Among the minority shareholdings in 21 companies offered for the upcoming public auction, the largest share of 27.94 percent or 8,033 shares belongs to the Rijeka company Transadria, with a starting price of 23.69 million kuna.

Among the more prominent names of companies whose shares will be for sale is Tisak, and for its 13.55 percent or 323,585 shares, the starting sale price is not specified but will be ‘the last achieved average price on the Zagreb Stock Exchange before the announcement of the public auction call.’ Similar is stated for another seven companies whose offered shareholdings for sale at the public auction range from 0.01 percent (Tobacco Factory Zagreb) to 0.25 percent (Atlantska plovidba). In addition to these, the group also includes shares of companies such as Ericsson Nikola Tesla, HUP Zagreb, Jamnica, Riviera Poreč, and Tankerska plovidba.  (H)