ZSE: Almost all stocks record price declines

Under the influence of a sharp sell-off of stocks on foreign exchanges, today the Crobex indices on the Zagreb Stock Exchange have also dipped into the negative, with most stock prices falling as there are no news from the domestic environment to bring at least a little optimism among investors.

Around noon, the Crobex index was down 0.87 percent, at 1,865 points, a new lowest level since mid-January. The Crobex10 fell by 0.75 percent, to 1,061 points, the lowest level since the end of January.

The regular trading volume amounted to approximately 3.3 million kuna, which is about 69 million less than yesterday at this time, when high trading was achieved thanks to the shares of Končar-electroindustry.

– Primarily influenced by the sharp sell-off of stocks on foreign exchanges, the Crobex indices have significantly fallen today. Almost all stocks are recording price declines. Unfortunately, we also have no news from the domestic environment that could bring optimism among investors – says Nigela Bubalo, broker and member of the Management Board of the investment company Credos.

On European exchanges, stock prices sharply fell this morning, following the decline of indices on Wall Street and Asian markets, as the Fed may soon begin to unwind its accommodative monetary measures, and investors were also disturbed by the decline in industrial activity in China.

Profit-taking sales have lowered the London Ftse, Paris CAC, and Frankfurt DAX between 1.93 and 2.71 percent. At the same time, U.S. futures indices are down about 1 percent.

The highest trading volume so far has been achieved by HT shares, at 880,000 kuna. Its price fell by 1.08 percent, to 207.19 kuna.

Following is the share of Petrokemija, with a trading volume of 474,000 kuna and a price drop of 1.86 percent, to 230 kuna.

Among the biggest losers are two construction stocks – Ingra, whose price plummeted by 5.8 percent, and Hidroelektre niskogradnje, by 4.67 percent.

Among the more liquid issues, the only winner so far is the shares of Ina, with a price increase of 1.03 percent.