The focus of investors on the Zagreb Stock Exchange today will also be on the shares of INA, with changes in its price having the greatest impact on the movement of the Crobex index.
Of the 8 analysts from brokerage firms who participated in Hina’s survey, 6 expect stagnation of the Crobex today, 1 expects growth, and 1 expects a decline. The Crobex index weakened by 0.73 percent yesterday, to 2,061 points, while the Crobex10 fell by 1.02 percent, to 1,126 points. Regular trading amounted to 37.3 million kuna, which is about 13 million more than on Friday, when the exchange operated on a shortened schedule. The most traded was INA’s share, which generated a turnover of 21 million kuna, and its price weakened by 2.05 percent, to 3,004 kuna.
“I expect stagnation in the domestic market today, with the greatest impact on index changes coming from INA’s shares, which will continue to be in the greatest focus of investors,” says Nada Harambašić, chief financial analyst at Raiffeisen Consulting. She adds that yesterday’s profit-taking sales of shares, which followed two weeks of strong gains, could gradually calm down today.
The shares of Magma could be in somewhat greater focus for investors than usual, following the announcement of a restructuring of part of the company, believes Harambašić. Namely, the Supervisory Board of the company accepted the offer from NCA Investment Group from Belgrade to purchase 51 percent of the shares in several of Magma’s subsidiaries. The realization of the entire transaction amounting to 24.66 million euros will be completed by the end of February next year.
