Ericsson Nikola Tesla Share at 1483 Kuna

The Crobex index of the Zagreb Stock Exchange continued its rise today for the second consecutive day, with the shares of Ericsson Nikola Tesla (ERNT) in the spotlight of investors after the company reported its business results for the past year.

Around 12:00 PM, Crobex was up 0.88 percent, at 1,932 points, while Crobex10 was up 0.52 percent, at 1,052 points.

Regular trading amounted to 11.3 million kuna, which is about 6 million more than yesterday at the same time.

– After sliding close to 1,900 points, Crobex found support yesterday and is rising today. According to the technical picture, it could face resistance around 1,960 points. If it fails to break through, it could slide down to approximately 1,840 points, where fresh capital and solid demand could emerge, says Siniša Gašparević, broker and investment advisor in the Treasury and Investment Banking Sector of Splitsko-Dalmatinska Bank.

On the other hand, if Crobex breaks above 2,000 points, it would signal a very strong upward trend, adds Gašparević.

The highest turnover was achieved by the shares of Ericsson Nikola Tesla, amounting to 2.53 million kuna. Its price weakened by 0.42 percent, to 1,483 kuna.

Ericsson Nikola Tesla (ERNT) reported a net profit of 126.9 million kuna last year, which is 353 percent higher than in 2001.

The Management and Supervisory Board propose a dividend payout totaling 170 kuna, the same as last year, with 20 kuna as regular and 150 kuna as extraordinary dividend per share.

“The expectation of good business results for the company has already been factored into the price of the share. Namely, its price has risen from approximately 900 to nearly 1,500 kuna since June last year, and now investors need to assess what this business year will be like,” says Gašparević.

Million kuna turnovers were also achieved by the shares of AD Plastik and Valamar Adriatic. In this case, the share of AD Plastik increased by 3 percent, to 123 kuna, while Valamar rose by 3.9 percent, to 150 kuna.

Most issues are making gains today. The largest gains are seen in the shares of Ingra, at nearly 7 percent, followed by Dalekovod at 5.4 percent, Belje at 5.2 percent, and Končar at 4 percent.

Among the few losers, the share of Arenaturist stands out with a price drop of 5.7 percent.

The price of HT shares stagnates at 216 kuna with a turnover of nearly 600,000 kuna.