ZSE: Crobexes on the Path to Gains for the Second Consecutive Week

At the Zagreb Stock Exchange on Friday, as in previous days, the focus of investors will be the quarterly business reports of companies, while the Crobex indices are on the path to gains for the second consecutive week.

All 5 analysts who participated in the Hina survey expect stagnation of the Crobex today. The Crobex index strengthened by 0.41 percent yesterday, to 1,793 points, while Crobex10 rose by 0.62 percent, to 1,043 points.

>>>ZSE: Significant Drop in Turnover, Stock Indices Increased

Thanks to this, the indices are poised for gains for the second consecutive week. Currently, Crobex is up 0.3 percent compared to the beginning of the week, and Crobex10 is up 0.6 percent. The regular turnover of shares amounted to 4.7 million kuna yesterday, almost 7 million less than the day before.

– Crobex indices finished in the positive yesterday, and the focus was on the shares of issuers who published quarterly financial reports, while the highest turnover was achieved by the shares of Podravka, says Aleksandra Mladenović, a broker at Podravska banka.

The shares of Podravka achieved a turnover of almost 2 million kuna, and its price rose by 1.75 percent, to 290 kuna. Following with a turnover of around 485 thousand kuna was the preferred share of the Adris group, whose price fell by 0.24 percent, to 414 kuna.

>>>ZSE: Crobexes Fell, Podravka’s Share Price Increased

It was announced yesterday that the Management and Supervisory Board of Adris Group proposed to the General Assembly a decision on the payment of a dividend of 17.5 kuna per share.

After HT reported that its profit in the first quarter increased by almost 12 percent year-on-year, despite a revenue drop of about 1 percent, the share price of this telecom company rose by 1.25 percent, to 162.50 kuna, with a turnover of around 475 thousand kuna.

On the other hand, the share price of Ericsson Nikola Tesla fell by 1.8 percent, to 1,095 kuna, after the company announced that its revenues in the first quarter fell by more than 5 percent compared to the same period last year, while net profit increased by more than 50 percent.

>>>For HT’s Dividend in the Next Two Weeks

The Supervisory Board of Ericsson Nikola Tesla proposed to the General Assembly that a dividend of 32.50 kuna per share be paid to shareholders, significantly less than last year’s 90 kuna. The share price of Maestra also fell significantly, by 2.7 percent, to 292 kuna, with a turnover of around 114 thousand kuna.

Global Markets

On Wall Street, stock prices rose significantly yesterday as investors were encouraged by better-than-expected quarterly business results from a number of companies, primarily in the technology sector. The Dow Jones strengthened by almost 1 percent, while the S&P 500 rose by 1.04, and the Nasdaq index by 1.64 percent.

>>>Stock Prices on Wall Street Rose Due to Good Business Results

– Most companies reported quarterly results better than expected, and shares in the technology sector recovered, with Facebook’s stock rising the most. The yield on 10-year U.S. Treasury bonds fell from 3.035 percent, which represents the highest level in four years, to 2.973 percent. Today, the focus of investors in the U.S. market will be on the first estimate of GDP, which usually has the greatest impact on the market, says Aleksandra Mladenović.

Stock prices also rose on European exchanges yesterday. The London FTSE index strengthened by 0.57 percent, while the Frankfurt DAX rose by 0.63, and the Paris CAC by 0.74 percent.