Two million kuna in trading of HT shares

The Crobex indices of the Zagreb Stock Exchange fell significantly today, influenced by a 10 percent correction in the price of HT shares as they are traded without the right to a dividend for the previous year, and negative sentiment is also affected by profit-taking sales on foreign exchanges.

The Crobex index plummeted today by 1.19 percent, to 1,803 points, the lowest level since January 3, when it closed at 1,770 points.

Crobex10 dropped by 2.08 percent, to 1,024 points, the lowest level since January 8, when it closed at 1,010 points.

Regular trading in shares reached 4.33 million kuna, which is approximately 2 million more than yesterday at this time.

The most traded was HT shares, which generated nearly 2 million kuna in trading.

For this share, today marked the ‘ex-dividend date’, meaning it is traded without the right to a dividend for the previous year. The dividend is in the gross amount of 20.51 kuna per share and will be paid on July 8.

The price of HT shares has been adjusted for the dividend amount, thus it has fallen by 10 percent, to 183 kuna.

-The entire market sharply fell today, and the gains of Crobex since the beginning of the year are increasingly melting away. The sale of HT shares is most affected, as it is traded without the right to dividend payment from today. There is also very poor sentiment on foreign exchanges, which partly influences today’s negative movements on the Zagreb Stock Exchange, says Nigela Bubalo, broker and member of the Management Board of the investment company Credos.

While at the end of the first quarter Crobex was up approximately 15 percent, these gains have significantly melted away by today. Thus, since the beginning of the year, Crobex is currently up by 3.6 percent, and Crobex10 by 5.4 percent.

On foreign exchanges, the most important indices have sharply corrected, as investors have undertaken profit-taking sales, and they are also concerned about the possibility that central banks around the world will soon begin to tighten monetary policies.

Currently, the Paris CAC, Frankfurt DAX, and London Ftse indices are down between 0.77 and 1.66 percent.

On the domestic exchange, there is also significant trading in the shares of Rivijera Adrije and Petrokemija, which generated more than half a million kuna in trading. In this case, Rivijera’s share recorded a price drop of 0.57 percent, to 13.92 kuna, while Petrokemija dropped by 0.05 percent, to 205 kuna.

Among the biggest losers are the shares of Dalekovod, whose price plummeted by 9.94 percent, and Ingra, by 4.75 percent.

Among the few gainers, the shares of Dioki stand out, with a price jump of 7.12 percent, and Belje by 3.19 percent.

Today, the ‘ex-dividend date’ also occurred for the shares of Ina, so it no longer carries the right to a dividend payment in the gross amount of 34.36 kuna per share. However, the price of Ina’s shares stagnates at 4,250 kuna, with a trading volume of only 60,000 kuna.