Crobex will contain less than 25 stocks after the revision in September?

Trading on the Zagreb Stock Exchange today could resemble yesterday’s, which was marked by slightly higher investor activity on the usually most liquid issues, but no significant changes in Crobex are expected.

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

The Crobex index weakened by 0.45 percent yesterday, marking the fourth consecutive day of decline, finishing trading at 1,830 points. Crobex10 fell by 0.38 percent to 1,028 points, sliding for the third consecutive day.

Regular trading volume amounted to 9.3 million kuna yesterday, which is approximately 4 million more than the day before.

The highest turnover, 2.2 million kuna, was achieved by HT shares, which rose by 0.82 percent to 178.55 kuna.

Next was the preferred share of Adris, with 1.2 million kuna and a price drop of 1.25 percent to 276.50 kuna.

The stock of Dalekovod was also in focus for investors, whose price strengthened by just over 3 percent to 32.35 kuna, with a turnover of 773.4 thousand kuna.

“Yesterday’s trading was marked by slightly higher investor activity, mainly on the usually most liquid issues, while Crobex continued to slide. I expect similar trading today, as there are no significant business news,” says Tamas Nagy, a broker at Erste&Steiermaerkische Bank.

He adds that there may be slightly higher activity in trading certificates due to volatility in foreign markets.

A revision of Crobex is also expected soon.

“It is likely that Crobex will contain less than 25 stocks after the revision in September, as some issues have not achieved enough trading days to be included in the index,” Nagy notes.

From stock market news, the company Konsolidator has extended the deadline for its binding offer for the recapitalization of Dalekovod, amounting to 150 million kuna, until the end of September.

As it is certain that the remaining condition set in the binding offer for recapitalization will not be fulfilled by August 31, 2013, which is the finality of the Commercial Court’s decision approving the concluded pre-bankruptcy settlement, Konsolidator has once again extended the validity of its offer, from August 31 to September 30, 2013, it was announced today from Dalekovod.

In foreign markets, indices have somewhat recovered in the last 24 hours after sharp losses in the previous two days.

On Wall Street, stock indices slightly rose on Wednesday, primarily thanks to a surge in stock prices in the energy sector.

The Dow Jones index strengthened by 0.33 percent to 14,824 points, while the S&P 500 rose by 0.27 percent to 1,634 points, and the Nasdaq index by 0.41 percent to 3,593 points.

In Asian markets, stock prices also recovered this morning, while oil prices weakened.

“Tensions regarding Syria have somewhat calmed, as British Prime Minister David Cameron wants to wait for the findings of UN chemical weapons experts before deciding on participation in a military strike on Syria, and the US does not want to act alone,” emphasizes Nagy.

However, he adds that the corrections in the indices were not solely influenced by uncertainty regarding a possible attack on Syria.

“Corrections occurred also because at these quite high levels, they no longer found support in the market. Additionally, investors are troubled by uncertainty ahead of the Fed’s September meeting, where monetary incentives to the US economy, which have largely contributed to record levels of stock indices, could be reduced,” concludes Nagy.

New guidelines for investors will be provided today by new data from the US labor market and GDP for the second quarter.