Global Stock Markets Push Crobex into Slight Positive Territory

The indices of the Zagreb Stock Exchange are slightly up today, influenced by a strong rise in stock prices on foreign exchanges, but lack the strength for a stronger increase due to the absence of stimulating domestic news.

The Crobex index was up 0.12 percent around noon, at 1,822 points, while Crobex10 was up 0.03 percent, at 1,026 points.

Regular trading in shares reached 3.8 million kuna, which is approximately half a million higher than yesterday at this time.

“Thanks to the strong rise in stock prices on foreign exchanges, Crobex indices are up today, but unfortunately lack the strength for greater growth as there are no positive domestic economic news,” says Nigela Bubalo, broker and member of the Management Board of the investment company Credos.

On European exchanges, stock prices rose sharply today, as they did yesterday on Wall Street, after the Fed decided not to reduce its stimulative monetary programs until the U.S. economy firmly stands on its own feet.

The Frankfurt DAX, Paris CAC, and London FTSE were up between 1.13 and 1.42 percent around noon.

On the domestic market, the highest turnover so far has been achieved by HT shares, amounting to 813,000 kuna. Their price strengthened by 0.68 percent, to 177 kuna.

Following is the share of Atlantska Plovidba, with a turnover of 771,000 kuna and a price jump of 2.79 percent, to 357.88 kuna.

The focus of investors is also on Vira shares. Their price strengthened by 0.86 percent, to 608 kuna, with a turnover of 717.5 thousand kuna.

Vira convened an extraordinary shareholders’ meeting for October 28, during which it will propose an increase in share capital, among other things.

It is proposed that almost the entire retained profit from last year, amounting to 138 million kuna, be converted into share capital, which would increase to 387.6 million kuna. This capital increase would be carried out without issuing new shares, by increasing the amount attributed to each existing share of the company, thereby keeping the ratios between shareholders unchanged.

Most stock prices are up today, with shares of Končar Distribution and Special Transformers and Tankerska Plovidba standing out with a price increase of 4.5 percent among the more liquid issues.