In the absence of new news, INA will remain in focus for investors on the Zagreb Stock Exchange today, and the direction of the Crobex index will primarily depend on the movement of the share price of this oil company, as it has in previous days.
Of the 8 analysts from brokerage firms who participated in Hina’s survey, 5 expect stagnation of Crobex today, while 3 anticipate an increase. The Crobex index rose by 1.04 percent yesterday, to 2,132 points, while Crobex10 increased by 0.82 percent, to 1,163 points. Regular trading reached around 38 million kuna, which is about 7 million less than last Friday. “I expect the continuation of positive sentiment in the domestic market as positive signals are also coming from global exchanges,” says Ana Franin, a financial analyst at Raiffeisen Consulting. She adds that in an environment lacking domestic economic and business news, INA shares will again be in focus for investors today. The movement of its price will most significantly influence the direction of the Crobex index. Yesterday, trading in INA shares reached around 24 million kuna, and its price rose by 0.66 percent, to 3,210 kuna, the highest level in the last three and a half years.
“This week, the shares of Podravka could also come under scrutiny due to the activation of the ‘put’ option,” Franin believes. Namely, it is expected that the Hungarian OTP Bank will soon activate the option to sell 10.6 percent of Podravka shares over which it has a lien. Recall that earlier, the management of Podravka decided not to accept OTP Bank’s offer to buy back those shares, and pension funds will not act jointly in their purchase. Among other news, it is noteworthy that Ingra has closed the sports facility Arena Zagreb because the City of Zagreb and the state have not paid the agreed amount for its maintenance of around 9 million kuna. The media reports that Zagrebački holding paid only 1.6 million kuna for the maintenance of the hall for last year, while it should have been 8.9 million kuna.
