The Most Traded Stocks are Riviera Adria and ERNT

With the winding down of the financial reporting season for companies, trading on the Zagreb Stock Exchange has decreased, but the Crobex indices are in the positive, while the stocks of Riviera Adria and Ericsson Nikola Tesla are in the greatest focus of investors.

Around noon, the Crobex was up 0.51 percent, at 1,955 points, and the Crobex10 was up 0.37 percent, at 1,097 points.

Regular trading amounted to 3 million kuna, which is approximately a million less than on Friday at this time.

“Today, trading on the Zagreb Stock Exchange is low, but the Crobex indices are in the positive. As the financial reporting season for the first quarter winds down, the market is slowly sinking into stagnation. The stocks of Riviera Adria and Ericsson Nikola Tesla are in the greatest focus of investors,” says Tomislav Kesić, a broker at Zagrebačka banka.

The most liquid stock by noon was that of Riviera Adria, with a turnover of 776,000 kuna. After a price drop of 2.88 percent, to 13.5 kuna, it is also the biggest loser of the day.

On Friday, the company announced that it would publish a voluntary public offer for the remaining free shares of the company Dubrovnik – Babin Kuk. Riviera already holds a 94.14 percent ownership stake in that company.

Following in liquidity is the stock of Ericsson Nikola Tesla, with a turnover of 708,000 kuna. Its price strengthened by 0.17 percent, to 1,550 kuna.

Among the larger gainers, the stock of Valamar Adria stands out. Its price increased by 2.78 percent, to 152.43 kuna.

The stock of HT achieved a turnover of around 310,000 kuna by noon, and its price strengthened by 0.39 percent, to 209.5 kuna.

Kesić also notes that there are no encouraging news from the macroeconomic sphere.

The State Bureau of Statistics today published the first estimate indicating that retail trade turnover in March fell by 2.1 percent in real terms compared to the same month last year.

This is a smaller decline than expected, considering that four macroeconomists who participated in a Hina survey expected an average consumption decline of 2.7 percent year-on-year in March. All surveyed expected a decline, ranging from 1.0 to 4.0 percent.

March marks the 13th consecutive month of declining consumption, with the decline slowing compared to February, when retail trade turnover slipped by 3.3 percent.