Most Liquid Stocks Ended in Negative Territory

The Zagreb Stock Exchange is expected to see calm trading today, typical for a Monday, as there are no significant domestic corporate news to stimulate investors, while positive signals are coming from global markets.

All 7 analysts from brokerage firms who participated in Hina’s survey expect stagnation of the Crobex today.

The Crobex index fell by 0.83 percent last week, to 1,826 points, while Crobex10 dropped by 0.99 percent, to 1,028 points.

Regular trading in shares amounted to 58.4 million kuna, which is about 15 million kuna more than a week ago, but it still represents low liquidity.

– Liquidity in the domestic market remains very modest, and most of the least liquid stocks ended last week in negative territory – says Davor Špoljar, senior capital market analyst at Erste&Steiermaerkische Bank.

The highest turnover was achieved by HT shares, amounting to 7.1 million kuna, with a price drop of 2.44 percent, to 179 kuna.

Next is the preferred share of the Adris Group, with just under five million kuna in turnover. Its price decreased by 2.90 percent, to 268 kuna.

The price of IGH shares also sharply fell by 7.32 percent, to 179 kuna. Creditors of the IGH Institute accepted the operational and financial restructuring plan for the company on Friday at a hearing in the pre-bankruptcy settlement procedure. Creditors holding 90 percent of the claims agreed to the plan.

– Today, we also expect modest liquidity in the domestic market, typical for a Monday, as there are no significant corporate news to stimulate the market – says Davor Špoljar.

On global stock exchanges, share prices rose last week after several weeks of consecutive declines, as solid macroeconomic data from the world’s largest economies encouraged investors.

On Wall Street, the Dow Jones strengthened by 0.8 percent last week, while the S&P 500 rose by 1.4 percent, and the Nasdaq index increased by 2 percent.

European stock exchanges also saw share prices rise last week. The London FTSE strengthened by 2.1 percent, and the Frankfurt DAX rose by the same amount. The Paris CAC, on the other hand, jumped by 2.9 percent.

– The positive sentiment in global markets is attributed to better-than-expected macroeconomic indicators from the two largest world economies, the United States and China. However, certain risks for the capital market are emerging due to the potential military intervention in Syria and the likelihood that the U.S. Fed may reduce monetary stimulus this month – concludes Špoljar.