In the absence of significant news, trading on the Zagreb Stock Exchange is proceeding calmly today, with very low turnover and Crobex indices stagnating.
Crobex was down 0.02 percent around noon, at 1,820 points, while Crobex10 weakened by 0.10 percent, to 1,028 points. Regular trading in shares amounted to only 1.2 million kuna by noon, about 2 million less than yesterday at the same time.
– The turnover remains very modest. Although HT and some other companies have paid dividends in recent days, there is really no fresh money in the market – says Siniša Gašparević, investment advisor in the Treasury and Investment Banking Sector at Splitsko-dalmatinska Bank.
The highest turnover, around 270 thousand kuna, was achieved by HT shares by noon, and its price fell by 0.7 percent, to 173.62 kuna. Following with a turnover of about 200 thousand kuna is Vupik shares, which increased by 1.1 percent, to 130 kuna. The price of Ericsson Nikola Tesla shares, on the other hand, rose by 0.8 percent, to 1,500 kuna, with a turnover of 150 thousand kuna. The technical picture indicates that Crobex could move within a fairly narrow range in the upcoming period.
– After breaking above the 20-day moving average last week, Crobex now finds support around the level of 1,800 points, while, on the other hand, it would encounter resistance at the level of 1,850 points – says Siniša Gašparević.
European exchanges are also trading cautiously today as data released this morning showed that Chinese exports fell by 3.1 percent in June compared to the same month last year, marking its first decline since January last year, while imports weakened by 0.7 percent. These are new data in a series indicating a slowdown in the world’s second-largest economy. Primarily for this reason, around noon, the Paris CAC, London FTSE, and Frankfurt DAX indices were down between 0.3 and 0.4 percent.
