ZSE: In quiet trading, HT and tourism companies could be in focus

On the Zagreb Stock Exchange on Tuesday, a continuation of restrained trading is expected, with stagnation of the Crobex index, while the shares of HT and tourism companies could still be in focus for investors.

All five analysts who participated in the Hina survey expect stagnation of the Crobex today. The Crobex index fell by 0.10 percent on Monday, to 1,899 points, while Crobex10 weakened by 0.33 percent, to 1,123 points.

Regular trading volume amounted to 3.6 million kuna, which is about 1.5 million kuna more than on Friday. In block trading, privileged shares of Adris generated another 4.5 million kuna, at a price of 454 kuna per share.

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– I still expect stagnation of the Crobex on the domestic market. It is hard to say with which sign, as there are no significant business news. Turnover could remain modest, which is typical for the summer period, says Ana Turudić, financial analyst at Raiffeisenbank Austria.

In focus for investors, she adds, could still be the usually most liquid issues, such as HT and Valamar Riviera and other tourism companies due to the good tourist season.

In regular trading, only the shares of Valamar Riviera had a million kuna turnover yesterday, 1.7 million kuna. The price of that share rose by 1.36 percent, to 46.34 kuna.

More than half a million kuna in turnover was recorded only by HT shares, 625 thousand kuna, and its price weakened by 0.56 percent, to 180 kuna.

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Along with Valamar, some other tourism shares were traded a bit more, which also recorded a price increase, so Crobexturist was the biggest winner among sector indices, with a growth of 1.43 percent.

The shares of Maistra lead the more liquid winners with a price jump of 6.05 percent, to 331 kuna. The turnover for that share amounted to 167 thousand kuna. Only the shares of Turisthotel had more than one hundred thousand kuna in turnover, and their price rose by 1.86 percent, to 3,200 kuna.

Among the larger losers were the shares of Končar Elektroindustrija, with a price drop of 3.28 percent, to 725.4 kuna, and Atlantska plovidba, down 2.18 percent, to 425 kuna.

From stock market news, the Center for Restructuring and Sale (CERP) announced that it has received one binding offer for the purchase of almost 1.6 million shares of Luka Rijeka, which represent 11.75 percent of the share in the equity capital, with an offered price of 50 kuna per share, which is 1 kuna more than the requested minimum price.

The Management Board of CERP made the decision to initiate the sale of state shares in Luka Rijeka at the end of June. The call also stated that upon selecting the most favorable offer, the transaction would be executed on the Zagreb Stock Exchange as a single block transaction.

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In recent weeks, media reported that the second-largest shareholder of Luka, Polish OT Logistic, could be the main candidate for purchasing that stake, thus becoming the largest individual shareholder. Namely, the Polish shareholder was also the largest individual buyer of Luka Rijeka shares issued during the recapitalization process in 2015.

The last price of Luka Rijeka shares yesterday on the stock exchange was 47.52 kuna, which is 3 percent less than on Friday.