Investors on Annual Leave, Crobex Stagnation Expected

Today, a weak trading volume and stagnation of Crobex are expected on the Zagreb Stock Exchange, as most investors are absent due to summer vacations, and there are currently no new news that could stimulate the market.

All 6 analysts from brokerage firms who participated in Hina’s survey expect stagnation of Crobex today.

The Crobex index strengthened by 0.75 percent last week, to 1,853 points, while Crobex10 increased by 0.36 percent, to 1,040 points.

Regular trading turnover was 45.4 million kuna, which is approximately at the level of the previous week. In addition to regular trading, a block trade of 3.6 million kuna was achieved with the shares of Zvijezda.

The highest turnover last week was achieved with HT shares, amounting to 8.7 million kuna, with a price drop of 0.84 percent, to 174.90 kuna.

Adris shares were also in focus for investors. The regular shares of this company achieved a turnover of 3.7 million kuna, with a price drop of 3.13 percent, to 310 kuna. Approximately the same amount was traded with the preferred shares of Adris, which saw a price increase of 1.98 percent, to 285.55 kuna.

“I expect low turnovers and stagnation of Crobex in the domestic market today, as it is the peak of the summer vacation season and many investors are absent from the market,” says Nada Harambašić Nereau, a financial analyst at Raiffeisenbank Austria.

She adds that there are currently no significant business news.

“From stock market news, shares of Plava Laguna and Slavonski ZIF will be traded without the right to participate in dividend payments starting tomorrow,” notes Harambašić Nereau.

Plava Laguna is paying a dividend of 91.06 kuna per regular share and 92.06 kuna per preferred share.

The Slavonski closed-end investment fund, on the other hand, is paying a dividend of 2.85 kuna per share, totaling 8.7 million kuna.

In foreign markets, trading has been cautious in recent days. On Wall Street on Monday, stock prices slipped from record levels, with very thin trading volume, as there were no news to guide the market.

In such circumstances, the Dow Jones fell by 0.30 percent, and the S&P 500 index by 0.15 percent. The Nasdaq index, on the other hand, increased by 0.09 percent.

Asian stock prices also fell this morning, while European markets are trading very cautiously this morning.

“From macroeconomic indicators, data on factory orders in Germany and the first estimate of Italy’s gross domestic product will be published today,” concludes Harambašić Nereau.