After three days of growth, the Crobex indices of the Zagreb Stock Exchange weakened this morning, with most stocks recording losses, particularly the largest stocks of Podravka and Medika.
The Crobex index was down 0.72 percent around 11 AM, at 1,767 points, while Crobex10 fell 0.79 percent, to 990 points.
Regular trading volume amounted to 2.3 million kuna, which is about 3 million less than yesterday at this time.
– As expected, after yesterday’s sharp decline in stock prices on foreign exchanges, the domestic market today has a negative sign. The decline in the index was primarily influenced by the drop in Podravka’s stock price at the beginning of trading by more than 4 percent – says Roman Rinkovec, an independent stock market analyst. He adds that all stocks contained in Crobex are now recording a price drop.
– However, this minus can very easily turn into a plus by the end of the day, as only a few stocks are being traded significantly – notes Rinkovec.
The highest turnover was achieved on the Multilateral Trading Platform (MTP) with Europlantaže shares, amounting to 808,500 kuna, at a price of 770 kuna per share.
In regular trading, however, the highest turnover is recorded by AD Plastika shares, with only 197,000 kuna. Its price fell by 1.32 percent, to 103.8 kuna.
Following is Đuro Đaković Holding shares, with 188,000 kuna in turnover and a price drop of 0.34 percent to 72.72 kuna.
Turnover above 100,000 kuna was also achieved only by HT shares, whose price weakened by 0.53 percent, to 211.7 kuna, and Medika, whose price plummeted by 16.67 percent, to 6,000 kuna.
Among the larger losers among the stocks contained in Crobex, Podravka’s shares stand out, with a price drop of 4.11 percent, to 262.23 kuna, with a turnover of only 5,244 kuna.
On European exchanges, the main indices are recovering after yesterday’s sharp decline, so currently, the Paris CAC, London Ftse, and Frankfurt DAX are up between 0.30 and 0.54 percent.
– On foreign exchanges, the decline in stock prices has been halted today, but trading remains very unstable and it is unclear in which direction the markets will go – concludes Rinkovec.
