After the extended weekend, a continuation of low liquidity is likely on the Zagreb Stock Exchange today as there are still no news to strengthen investor interest in shares, while Crobex could slightly rise if the positive trend continues on global exchanges.
Of the 8 analysts from brokerage firms who participated in Hina’s survey, 4 expect Crobex to rise today and the same number expect stagnation. Last week, due to the holiday shortened working week, the Crobex index rose by 0.97 percent to 1,874 points. Crobex10 strengthened by 1.22 percent to 1,001 points, surpassing 1,000 points for the first time since the end of June this year. Regular trading in shares amounted to 31 million kuna, and due to only three trading days, it was more than half lower compared to the previous week. Only four shares achieved million kuna turnover – HT, Dalekovod, Atlantska plovidba, and Ingra, while construction shares stood out with significant price increases ranging from 0.9 to 9 percent. “Due to the holiday and shortened trading, the past week on the domestic market was marked by low trading volume, with the construction sector standing out due to rising share prices after their multi-week decline. However, this growth is more of a technical nature, as evidenced by Viadukt’s announcement that due to illiquidity it is postponing the dividend payment for last year.
The construction sector is still facing problems due to high illiquidity, and currently, there are no indicators or news suggesting a change in trend,” emphasizes Žaran Perić, investment advisor at the investment company EA Sistem. Last week, global stock markets continued to see rising share prices for the fifth consecutive week, which is somewhat surprising considering the poor U.S. economic indicators regarding personal consumption, income, and employment, Perić assesses. “This week, the direction for investors on Wall Street will be provided by the announcement from the U.S. central bank, the Fed, on Tuesday from its regular monthly meeting,” says Perić. Investors expect the Fed to keep the key interest rate at a record low level and will read the announcement with great attention in search of signals regarding the further direction of monetary policy. Meanwhile, this morning on Asian exchanges, the major indices, except for Tokyo’s Nikkei, are slightly up.
