Today, trading on the Zagreb Stock Exchange continued to be lethargic, which is typical for the first half of August due to the holiday season, and there are currently no directions from global exchanges where investors are awaiting the Fed’s announcement.
The Crobex index was down 0.11 percent at 12:00 PM, at 1,874 points. At the same time, Crobex10 weakened by 0.06 percent, to 1,000 points. Regular trading in shares reached 4.2 million kuna by noon, što is about 1.5 million više than yesterday at this time. "Only five stocks had a turnover above 100,000 kuna by noon, što indicates a deep summer lethargy in the domestic market. However, it has become customary that trading in the first two weeks of August lacks any liveliness due to the holiday season. We will see if it picks up next week. This will also depend on the arrival of news from the domestic economy as well as the situation on global exchanges," says Roman Rinkovec, broker and investment advisor at the investment company Credos. A million kuna turnover has so far only been achieved by HT shares, amounting to 2.9 million kuna. Its price weakened by 0.08 percent, to 258 kuna. Following is the Atlantic Group stock, with a turnover of 310,800 kuna and a price of 700 kuna, the same as yesterday.
There is slightly more trading today in the shares of IPK Kandit. By noon, it achieved a turnover of 130,850 kuna, and its price remained unchanged compared to yesterday, at 232 kuna. Also in slightly greater focus for investors are the shares of Ericsson Nikola Tesla, whose price rose by 2.9 percent to 1,335 kuna, and INA, whose price fell by 0.25 percent to 1,651 kuna. On global markets today, stock prices fell under the influence of news about the slowdown in the growth of Chinese imports in July. The London FTSE, Frankfurt DAX, and Paris CAC indices are down between 0.5 and 1.2 percent. U.S. futures indices are currently down half a percentage point, indicating a negative start to trading on Wall Street. China’s imports rose by 22.7 percent year-on-year last month, što is significantly less than the June jump of 53 percent. This has worried investors, as a weakening of Chinese import demand could diminish its ability to stimulate global economic recovery."It is quite uncertain on global exchanges. Besides the slowdown in Chinese imports in July, što has shaken investor confidence in Asian and European markets this morning, there is caution ahead of the Fed’s announcement from its regular monthly meeting," emphasizes Rinkovec. Markets speculate that the Fed will adopt measures for additional quantitative easing of monetary policy due to the slowdown in the U.S. economic recovery."If the Fed meets market expectations, stock prices on global exchanges could hold at current levels. Otherwise, a downward correction could follow," assesses Rinkovec. Given the uncertainty regarding the further direction of price movements on global exchanges, it is logical that the domestic market is stagnating, believes Rinkovec."It seems that Crobex could easily reach 1,900 points, but the market is quite timid and is waiting for the resolution of the situation on global exchanges. If the positive trend continues abroad, the domestic exchange will follow in that direction in the coming days," concludes Rinkovec. (H)
