Viro collected nearly three million kuna in turnover

The Crobex indices of the Zagreb Stock Exchange slightly strengthened today for the second consecutive day, with Vira and Valamar Adria stocks being the main focus of investors, which was to be expected following their announcements made at the end of last week.

Both indices were up 0.32 percent around noon, with Crobex reaching 1,744 points and Crobex10 986 points. The regular turnover in shares amounted to 5.12 million kuna, which is one million kuna more than at this time last Friday.

– The Crobex indices have strengthened today, and the main focus of investors is on the shares of Vira and Valamar Adria, which was to be expected after their announcements made at the end of last week – says Ana Matić, a broker at Zagrebačka banka.

The highest turnover so far has been achieved by Vira shares, nearly three million kuna. Its price has strengthened by 1.47 percent to 533 kuna. On Friday, Vira announced that it would hold an extraordinary general meeting on December 27, where it will be proposed to pay a dividend of 20 kuna per share and to withdraw the shares from listing on the official market of the Zagreb Stock Exchange.

Following is the share of Valamar Adria Holding, with a turnover of 484,000 kuna and a price jump of 3.81 percent to 110.95 kuna. This company announced on Friday that it, along with its partners, has crossed the threshold of 75 percent of shares in the Poreč hotel company Riviera Adria, and announced the publication of a takeover offer for Riviera Adria.

By noon, the HT share achieved a turnover of 288,000 kuna, and its price weakened by 0.23 percent to 206.01 kuna. Among the more liquid issues, the Dalekovod share stands out with a price increase of 4.41 percent, while the Ingri share has decreased by 1.8 percent.

With a modest turnover of only 17,000 kuna, the price of Tehnika shares jumped by just over 6 percent to 760 kuna today.

This company announced this morning that it has signed a contract worth 7.24 million euros with the Central Agency for Financing and Contracting of EU Programs and Projects (SAFU) for the construction of a Bio-Science Incubation Center.

Around noon, Atlantic Group reported that it has signed a refinancing agreement with the European Bank for Reconstruction and Development, the International Finance Corporation, and four commercial banks. This transaction is worth 307 million euros, through which Atlantic Group will refinance existing credit obligations under more favorable conditions (with an average interest rate of 4.71 percent), with an extended maturity.

This money will primarily be used for restructuring the company’s balance sheet, amounting to 272 million euros. The remainder will be used for additional improvements in energy efficiency (10 million euros) and as working capital (25 million euros), the company reported. No transactions were conducted with Atlantic Group shares during the morning.

– Today, as well as throughout the rest of the week, we expect investor focus to remain on significant corporate news, while index movements will likely be influenced by developments in global markets – concludes Matić. Caution prevails in trading on European exchanges. Currently, the Frankfurt DAX is stagnating, while the Paris CAC is up 0.13 percent, and the Paris CAC is up 0.27 percent.