Construction Companies Lead Growth

In terms of price gains and turnover, the construction sector stands out today on the Zagreb Stock Exchange, while the indices do not record significant changes, with Crobex slightly down around noon, and Crobex10 slightly up.

During the morning, both indices were in the positive, continuing to hover around the highest levels in the last 15 months. However, just before noon, the Crobex index weakened slightly, currently down 0.05 percent, at 1,884 points.

Crobex10, on the other hand, was up 0.24 percent around noon, at 1,054 points.

Regular turnover reached almost 6 million kuna, which is approximately 7 million less than on Friday at this time.

– This morning, positive sentiment continued in the domestic market, with the construction sector standing out the most in terms of gains and turnover. It is possible that the growth in the construction sector is related to the announcement of continued investments in road construction at last week’s government session. Given the strong price gains of certain issues, Crobex could be in a greater plus, but stocks with a large weight in domestic stock indices, such as HT, are recording only slight price changes – says Tomislav Kesić, broker at Zagrebačka banka.

The biggest winner in the construction sector so far is the stock of Hidroelektra low construction, whose price jumped 10.88 percent.

Next is the stock of Viadukt, with a price increase of 6.39 percent, Tehnika 3.53 percent, and Ingra 1.56 percent.

Last Thursday, the government accepted the proposal for amendments to the Roads Act, which should enable the completion of contracted works at existing construction sites. This would ‘unfreeze’ 12 projects, worth a total of about 4.2 billion kuna, which were stalled due to lack of secured funds or necessary permits.

By noon, the most liquid stock was that of Rivijera Adrije, with a turnover of 1.2 million kuna. Its price weakened by almost 1 percent, to 12.97 kuna.

Next is the stock of HT, which achieved a turnover of 477,000 kuna, and its price strengthened by 0.43 percent, to 214 kuna.

Among the more liquid issues, the stock of Dioki stands out in terms of gains, which increased by 11.66 percent, to 12.16 kuna.

Among the few losers, the stock of Uljanik plovidba stands out, whose price dropped by 4.49 percent, and Petrokemija, by 1.33 percent.