At the Zagreb Stock Exchange, investors will again focus on the shares of companies that will announce their business results today, with Crobex indices likely to stagnate and trading volumes remaining at yesterday’s levels.
Of the 6 analysts from brokerage firms, 5 expect stagnation of the Crobex today, while 1 expects an increase. The Crobex index weakened by 0.29 percent yesterday, to 1,744 points, while Crobex10 fell by 0.71 percent, to 973 points.
Regular trading reached 11.5 million kuna, which is approximately 2.5 million kuna less than the previous day.
The highest trading volume, 1.92 million kuna, was achieved yesterday with shares of Ericsson Nikola Tesla, whose price rose by almost 2 percent, to 1,290 kuna, after the company reported a net profit of 92.9 million kuna in the first nine months, which is an increase of as much as 269 percent compared to the same period last year, and sales revenues of 1.56 billion kuna, 87 percent higher.
The shares of HT were also in focus for investors. With a trading volume of 1.8 million kuna, its price fell by 1.03 percent, to 206 kuna. HT reported a decline in total revenues in nine months by 7.1 percent compared to the same period last year, and net profit by 6.4 percent, but with a maintained margin of 46.1 percent.
– Due to the announcement of business results from several companies, a very wide range of shares was traded yesterday. I expect such trading today as well, as the remaining companies that have not yet announced their financial reports will likely do so on the last day of the month. Indices could stagnate, and trading volumes could remain at yesterday’s level, says Matko Bošković, broker and investment advisor at Centar banka.
Evaluating the current season of financial report announcements, Bošković says there have been pleasant surprises like Ericsson Nikola Tesla, while most companies are recording stagnation in revenues, so the quarter has not been so bad, considering the recessionary environment.
There are no significant changes on foreign exchanges either. On Asian exchanges, stock prices rose slightly this morning, thanks to yesterday’s strengthening of European markets, but trading is cautious as the opening of American financial markets is awaited, following the subsiding of Hurricane Sandy.
