ZSE: Vira Stock in Focus of Investors

At the Zagreb Stock Exchange, Crobex indices are slightly down today for the second consecutive day, with a somewhat higher trading volume than usual as investors continue to react to the financial reports of domestic companies released this week, with Vira stock being the main focus.

Around noon, Crobex was down 0.25 percent, at 1,937 points, and Crobex10 was down 0.56 percent, at 1,085 points. After two days of decline, both indices are again at their lowest levels since the end of February.

Regular trading volume amounted to 4.14 kuna, which is approximately 9 million less than yesterday at this time.

– The trading volume is still somewhat higher than usual, indicating that investors are still reacting to the financial reports of domestic companies for the first quarter of this year. The only millionaire is Vira stock, which is also the biggest loser of the day, primarily influenced by poor business results – says Boris Mažurin, analyst at the Economic Research Department of Hypo Alpe Adria Bank.

By noon, Vira stock achieved a turnover of 1.6 million kuna, and its price fell by 3.26 percent, to 602 kuna.

– In the first quarter, Vira recorded a sales decline of 49.1 percent, mainly due to poorer performance in export markets. EBITDA fell by almost 62 percent, and net profit amounted to only 725,000 kuna, after 41 million kuna in the same quarter last year – concludes Mažurin.

In terms of liquidity, the preferred stock of Adris follows, with a turnover of 450,000 kuna. Its price fell by 1.03 percent, to 292.31 kuna.

The stock of HT is also in greater focus for investors. With a turnover of 442,000 kuna, its price weakened by 0.62 percent, to 208.45 kuna.

Among the more liquid issues, the stock of Badel 1862 stands out with a price drop of 4.43 percent, currently trading at 31.5 kuna.

On the other hand, the stock of Kaštelanski Staklenici stands out with a price increase of 4.53 percent, to 543 kuna.

In other important news, the European Commission today lowered its previous forecasts and expects a decline in the Croatian economy by one percent this year, and only a slight growth of 0.2 percent next year.