Reports from Atlantic Group and AD Plastika Expected

Although companies are announcing their business results on the Zagreb Stock Exchange today, there is no significant reaction from investors due to the holiday season, with trading barely exceeding 2 million kuna by noon, and the Crobex indices are slightly down.

The Crobex index was down 0.28 percent around noon, at 1,834 points, while Crobex10 was down 0.18 percent, at 1,034 points. Regular trading in shares amounted to 2.3 million kuna, which is approximately 1.7 million less than at this time on Friday.

The only share with a million kuna turnover so far is HT’s share. Its price weakened by 0.37 percent, to 176 kuna. In terms of liquidity, the share of Arenaturist follows, with a turnover of 112,000 kuna. It stands out as the biggest winner with a price increase of 2.56 percent, to 175 kuna.

There is also slightly more trading in the share of Konzum – so far, it has achieved a turnover of just over 100,000 kuna, and its price is slightly up by 0.07 percent, to 145 kuna.

Among the biggest losers is the share of Tehnika, with a price drop of 7.15 percent, to 610 kuna.

“In the domestic, as well as in the global markets, the season for announcing quarterly business results of companies is ongoing. However, there is no significant reaction from investors in the domestic market due to the annual holidays,” says Nikolina Medić, financial analyst at Zagrebačka banka.

This morning, the business results were announced by Kutina’s Petrokemija, which recorded a 17 percent drop in sales in the second quarter, but also a 71 percent reduction in losses, to 14 million kuna. The shares of that company have not yet been traded on the stock exchange.

Among larger companies, the announcement of business results from Atlantic Group and AD Plastika is expected tomorrow.

“Asian markets ended in the red today due to worse-than-expected retail sales in Japan and slower earnings growth of Chinese industrial companies. At the same time, European markets are in the plus, thanks to better-than-expected business results from a number of companies,” adds Medić.

Currently, the Frankfurt DAX is up 0.54 percent, and the Paris CAC is up 0.36 percent, while the London Ftse is down 0.07 percent.

“In addition to the announcements of business results, investors will focus on Wednesday’s release of the Fed meeting minutes and data on U.S. GDP for the second quarter, while Friday is expected to bring the employment report in the U.S. for July,” concludes Medić.