ERNT Share Falls to 1,335 Kuna

Due to the sharp decline in the share price of Ericsson Nikola Tesla, by noon the Crobex index of the Zagreb Stock Exchange had fallen below 1,900 points, and its even sharper decline was mitigated by the rise in the share price of HT, which is also the most liquid.

Around noon, the Crobex index was down 1.01 percent, at 1,899 points, which is its lowest level since February 1, when it closed at that level.

Crobex10 was down 0.89 percent around noon, at 1,073 points – at its lowest level since February 26.

Regular trading in shares reached 2.7 million kuna, which is about two million less than yesterday at this time.

-Crobex has today fallen below 1,900 points due to the sharp correction in the share price of Ericsson Nikola Tesla, which is trading today without the right to a dividend of 170 kuna per share. This is a typical market reaction every time the ex-dividend date occurs, especially for shares with such a high dividend yield. A similar scenario is expected in mid-June, when the ex-dividend date for HT occurs, says Boris Mažurin, an analyst in the Economic Research Department of Hypo Alpe Adria Bank.

The price of Ericsson Nikola Tesla shares has fallen by almost 11 percent, to 1,335 kuna, with a turnover of nearly 400,000 kuna. During the morning, its price dropped to as low as 1,303 kuna, making it the biggest loser.

The highest turnover, on the other hand, was achieved by HT shares, amounting to 647,000 kuna, and its price rose by 1.34 percent, to 211 kuna. In modest trading, with a price increase, HT shares are currently the biggest winners.

In business news, Đuro Đaković Holding today reported that it has signed a contract with the Ministry of Defense of the Republic of Croatia for the procurement and equipping of combat armored vehicles for the Armed Forces with Protector M151 weapon stations, worth 112 million kuna excluding VAT.

The price of Đuro Đaković shares strengthened by 0.78 percent around noon, to 80 kuna, with a turnover of 288,000 kuna.