ZSE: Continuation of Index Stagnation Until the Release of Agrokor’s Revised Reports

At the Zagreb Stock Exchange, stagnation of the Crobex is expected on Wednesday, as investors await new directions with the upcoming release of Agrokor’s revised consolidated financial reports for 2016.

All 5 analysts who participated in the Hina survey expect stagnation of the Crobex today. The Crobex index weakened by 0.13 percent on Tuesday, to 1,805 points, while Crobex10 fell by 0.33 percent, to 1,069 points. Regular trading in shares amounted to 8.8 million kuna, which is almost six million kuna more than the previous day.

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– D-Day is tomorrow, when the release of revised consolidated financial reports of Agrokor and related companies is expected. It is possible that some issues will react to these announcements, especially suppliers – Kraš, Podravka, Adris, etc. However, generally, the trading volume in the previous two days has been quite modest. It remains to be seen whether the stock market will awaken from its lethargy following the release of these revised reports, says Roman Rinkovec, a broker at the investment company Credos.

A price drop of 1.19 percent, to 437.69 kuna, was recorded for the preferred shares of the Adris group, which had a trading volume of 1.75 million kuna. Following in trading volume is AD Plastika shares, with a turnover of 580.6 thousand kuna, along with a slight price drop of 0.07 percent, to 160 kuna.

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More than half a million kuna in trading, 525.6 thousand kuna, was also achieved by Valamar Riviera shares. The price of these shares increased by 1.20 percent, to 43.77 kuna.

Investors are also awaiting the revised financial reports of Agrokor and its related companies, which are expected to be released by the end of the week, after their announcement was postponed last Friday.

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Some companies within the Agrokor group reported yesterday that their supervisory boards will hold meetings in the afternoon, with the adoption of financial reports for 2016 on the agenda. The supervisory board of Belje, on the other hand, announced a meeting for today.

From business news, Petrokemija announced this morning that, with the consent of the Supervisory Board and CERP, it will allow the conduct of an additional due diligence process for potential strategic and investment investors who have submitted offers to participate in the recapitalization within the restructuring process of Petrokemija.