On the Zagreb Stock Exchange, Crobex indices fell today as there are no domestic news to encourage investors, while global markets are cautious ahead of the employment report in the U.S.
The Crobex index was down 0.52 percent around noon, at 1,745 points, while Crobex10 weakened by 0.74 percent, at 975 points. The regular turnover in shares amounted to about 5.2 million kuna, which is approximately 800 thousand more than on Wednesday at this time. However, about 1.7 million kuna of that turnover was achieved in government bonds.
– The turnover is actually solid, but Crobex indices are in the red because there are no domestic news to stimulate stock prices on the Zagreb Stock Exchange today. However, we will see how the market reacts to news from the U.S. labor market. There is optimism in global markets ahead of the employment report in the U.S. – says Lav Bernfest, an analyst in the Economic Research Department of Hypo Alpe Adria Bank. By noon, no stock on the domestic market had a turnover exceeding one million kuna, which is a result of the absence of many investors who linked yesterday’s holiday with the upcoming weekend.
The highest turnover, around half a million kuna, was achieved by the shares of Riviera, with its price falling by about 1 percent, to 13 kuna. Following with a turnover of about 450 thousand kuna is the share of Arenaturist, another tourism company, whose price rose by 0.4 percent, to 115 kuna.
The share of HT achieved a turnover of about 350 thousand kuna, with its price rising by 0.3 percent, to 205 kuna.
However, shares of several other companies that have significant weight in Crobex indices are under pressure. Thus, the share of Ina has decreased by more than 1 percent, and Končar Elektroindustrija by about 0.8 percent. However, with low turnover.
In global markets, the employment report in the U.S. is eagerly awaited, which could significantly influence the direction of the market. In a Reuters survey, analysts estimate that in October the number of employed increased by 125,000, about 10 thousand more than in September, but also that the unemployment rate rose from 7.8 to 7.9 percent.
And while waiting for that report, caution prevails in European markets, after stock prices have significantly risen in recent days.
The Frankfurt DAX, London FTSE, and Paris CAC indices were almost unchanged around noon compared to yesterday, as were the U.S. futures indices.
