Caution and Stagnation on the Stock Exchange, Crobex Indices Facing Weekly Losses

On the Zagreb Stock Exchange, stagnation of the Crobex index is expected on Friday, after two days of decline, which has resulted in a loss compared to the beginning of the week. Investors will focus on the shares of companies that will announce their business results, including Ericsson Nikola Tesla.

All 5 analysts who participated in the Hina survey expect stagnation of the Crobex today.

The Crobex index weakened by 0.16 percent yesterday, to 1,823 points, while Crobex10 slipped by 0.23 percent, to 1,054 points. For Crobex, this is the lowest level since last November, while Crobex10 has dropped to its lowest level since August 2016.

>>>Crobex Indices Decline, Possible Instability of the Entire Market

Regular trading volume amounted to 5.7 million kuna yesterday, which is almost 2 million less than the day before.

The only share with a turnover of one million kuna yesterday was HT’s share, which fell by 0.6 percent to 162 kuna.

With a turnover of around 935 thousand kuna, the preferred share of the Adris Group followed, with its price remaining unchanged at 425 kuna.

More than half a million kuna in turnover was achieved only by the shares of Valamar Riviera and Čakovečki Mlinovi. In this case, Valamar’s share decreased by 0.7 percent to 40.60 kuna, while the price of Čakovečki Mlinovi remained unchanged at 6,450 kuna.

Cautious Trading

Analysts in the Hina survey say they expect cautious trading today and that the focus of investors will be on the shares of those companies that will announce their business results, including Ericsson Nikola Tesla.

This morning, AD Plastik Grupa has already announced its results. The group’s revenues increased by 16 percent last year, to 1.08 billion kuna, while net profit reached 68 million kuna, which is 37 percent higher than a year earlier.

Crobex indices have been in the red since the beginning of the week, around 1.7 percent, with the largest daily drop of about 1.5 percent recorded on Wednesday, when the market was under pressure from the deepening crisis in Agrokor, after the extraordinary commissioner in that group, Ante Ramljak, resigned.

The Zagreb Stock Exchange has suspended trading in the shares of companies from the Agrokor group – Zvijezda, Ledo, Jamnica, Žitnjak, PIK Vinkovci, and Vupik – until the issuers inform the public about the consequences of his resignation on the extraordinary administration process.