With the end of the quarterly financial reporting season for companies, very calm trading is expected on the Zagreb Stock Exchange, with stagnation of Crobex and continued low liquidity that has been following the domestic stock market for months.
All 5 analysts who participated in the Hina survey today expect stagnation of Crobex. The Crobex index rose by 0.8 percent on Monday, to 1,809 points, surpassing the psychological level of 1,800 points for the first time since April 11.
Crobex10 was up 0.82 percent, at 1,055 points. Both indices have thus strengthened for the third consecutive day. Regular trading in shares amounted to only 5.8 million kuna, which is about 200 thousand kuna less than on Friday.
>>>ZSE: Most traded were HT shares, Petrokemija rose
– In the domestic market, there have been somewhat more positive news in recent trading days, primarily due to relatively good financial reports from certain companies. The stock exchange has handled this, so Crobex has again surpassed 1,800 points. However, trading remains very weak, and transactions are almost sporadic, says Roman Rinkovec, a broker at the investment company Credos.
Today, Rinkovec expects stagnation of Crobex, along with continued weak trading, as there are no significant business announcements with the end of the financial reporting season.
The only share with a million kuna turnover on Monday was HT’s share, which achieved 2.07 million kuna, with a price increase of 0.61 percent, to 164 kuna. Following in turnover, which amounted to 948.2 thousand kuna, was Valamar Riviera’s share. Its price rose by 2.50 percent, to 41 kuna.
>>>ZSE: The week marked by business result announcements
More than half a million kuna in turnover was also achieved by Arena Hospitality Group’s share, amounting to almost 795 thousand kuna. Its price jumped by 2.38 percent, to 430 kuna. Among the more liquid shares, a bigger winner was Vira’s share, with a price increase of 14.29 percent, to 160 kuna.
Vira announced that in the first quarter of this year it achieved a net profit of 18.9 million kuna, which is 2.2 million or 13.6 percent more than in the same period last year. Vira’s total business revenues reached 230.3 million kuna, which was 18.3 percent or 35.6 million higher than a year earlier.
A strong price increase was also achieved by Petrokemija’s share, by 31.68 percent, to 13.30 kuna, but with modest turnover of only two thousand kuna.
>>>ZSE: The best turnover was achieved by Valamar and HT shares
The Kutina company published revised financial reports for last year, and in the statement emphasized that it is in the final phase of the ownership transformation process and allows investors a ‘clean start’, and with this goal, 2017 was used to eliminate all risks previously highlighted by auditors, so the Management and Supervisory Board corrected previously published unaudited results for 2017, increasing the loss by 95.8 million kuna, to a total of 242.6 million kuna.
In the first quarter of this year, the company reported a loss of 78.8 million kuna, while in the same period last year it had a profit of 11.1 million kuna.
Of the approximately 50 shares traded on Monday, only eight recorded a price drop, and among the shares with more than one hundred thousand kuna, the prices of AD Plastik shares fell by 1.05 percent, to 188 kuna, Kraša by 0.47 percent, to 424 kuna, and Podravka by 0.34 percent, to 289 kuna.
