Today, cautious trading is expected on the Zagreb Stock Exchange as investors, awaiting the start of the season for the announcement of business results of domestic companies, monitor movements on global stock exchanges.
Of the 9 analysts from brokerage firms who participated in Hina’s survey, 8 expect stagnation of the Crobex today, while 1 expects an increase. The Crobex index slightly weakened yesterday by 0.08 percent to 1,904 points, while Crobex10 fell by 0.44 percent to 1,001 points. Regular trading reached 9.5 million kuna, što is about 14 million less than on Friday. „I expect continued cautious trading in the domestic market as investors await the announcement of companies’ business results. The direction of trading today will also be determined by movements on global stock exchanges, which will be influenced by the release of data on investor confidence in Germany and consumer confidence in America, as well as the number of new constructions in the European Union and building permits in the USA,“ emphasizes Nada Harambašić, chief financial analyst at Raiffeisen Consulting. The season for announcing the nine-month business results of domestic companies begins next week.
Atlantic Group has announced the release of its business results on October 27, Ericsson Nikola Tesla the following day, and HT and Petrokemija on October 29. Mixed signals are coming from global stock exchanges. On Wall Street, stock prices rose on Monday as better-than-expected business results from Citigroup boosted the entire banking sector, which had been under pressure in recent days due to possible irregularities in the foreclosure process on homes. Stock prices also rose this morning on most Asian exchanges, thanks to encouraging business results from American companies, while the exchange rate of the American currency stabilized after Washington indicated it does not intend to stimulate exports by devaluing the dollar. However, European stock indices slightly fell this morning. „I expect stagnation on European exchanges today, with particular attention from investors on the announcements of multinational companies’ business results for the first nine months, especially on the results of banks, whose stocks influence the movement of stock prices worldwide,“ concludes Harambašić. The announcement of business results from Goldman Sachs, Bank of America, and Bank of New York is scheduled for today. (H)
