HT Stock Dominates Trading

On the Zagreb Stock Exchange, the last working day of this week is passing quietly, as is customary for Friday, so the Crobex indices are stagnating, while trading volume is low due to the absence of news that could move the market.

Around noon, the Crobex index was down 0.2 percent, at 1,916 points, while Crobex10 weakened by 0.1 percent, to 1,075 points. Regular trading in shares reached about 2.6 million kuna, which is approximately 400,000 more than yesterday at this time.

“There is no news today to move the market, so the Crobex indices are stagnating, while trading is very low, as is typical for Friday. Investors are focused, as yesterday, on the shares of HT and Hidroelektra low construction,” says Boris Mažurin, an analyst in the Economic Research Department of Hypo Alpe Adria Bank.

The highest trading volume, around 480,000 kuna, was achieved with HT shares, whose price weakened by 0.1 percent, to 208.25 kuna.

Following with a trading volume of about 420,000 kuna is the share of Hidroelektra low construction, whose price jumped nearly 11 percent, to 107 kuna.

The share of Leda recorded a trading volume of about 300,000 kuna, with a price decrease of 1.7 percent, to 8,450 kuna.

It was expected that today the focus of investors could be on the shares of Agrokor’s companies after news that the company might submit a bid to purchase the Slovenian Mercator, but investors have not reacted so far.

Today, as yesterday, among the biggest losers is the share of the IGH Institute, as the Tax Administration blocked the business accounts of this construction company due to an overdue tax debt of 9.4 million kuna.

After yesterday’s drop of 7.6 percent, today the price of IGH shares fell further by 5.5 percent, to 424.99 kuna.

The low liquidity is evidenced by the fact that by noon, trading above 100,000 kuna was achieved by shares of only seven companies.

Meanwhile, European stock exchanges continue to show good sentiment, thanks to better-than-expected quarterly business results of companies. Around noon, the London FTSE, Frankfurt DAX, and Paris CAC were up between 0.5 and 0.6 percent.

“On global stock exchanges, indices continue to reach new records, from the American S&P 500 and Dow Jones to the Frankfurt DAX index. There is a good mood in the markets. Although economic indicators are mixed – some are bad, while others are somewhat less weak – stock prices are rising, mainly due to the loose monetary policy of the largest central banks in the world,” concludes Mažurin.