On the Zagreb Stock Exchange, cautious trading is expected on Thursday as the announcements of financial results from domestic companies are awaited, and the direction of the Crobex index will depend on these results.
All 5 analysts who participated in the Hina survey expect stagnation of the Crobex today.
The Crobex index weakened by 0.14 percent yesterday, to 1,821 points, while the Crobex10 rose by 0.38 percent, to 1,055 points.
>>>In Focus: Financial Results of Domestic Companies
Regular trading in shares amounted to 3.1 million kuna, which is about 1.3 million less than the day before.
– The stock indices of the Zagreb Stock Exchange ended yesterday’s trading with mixed signals. In terms of liquidity, we had a modest day, without any stock reaching a million in turnover. Although the season for announcing financial reports is in full swing, there was still a lack of greater investor activity. Yesterday, among others, Kraš, HPB, Optima Telekom, etc., announced their business figures, says Mišo Kalajžić, head of the brokerage service at Splitska Bank.
The highest turnover, around 890 thousand kuna, was achieved yesterday by the privileged shares of the Adris Group, with its price rising by 0.7 percent to 429 kuna.
With a turnover of about 805 thousand kuna, the shares of HT followed, which increased by 3.3 percent to 156 kuna.
>>>Zagreb Stock Exchange: Podravka Shares Rose by 4.3 Percent
The shares of Atlantska Plovidba had a turnover of 383 thousand kuna, while its price fell by 4.2 percent to 430 kuna.
Only the shares of Valamar Riviera recorded more than one hundred thousand kuna in turnover, which decreased by 0.5 percent to 39.90 kuna.
– Today’s direction, both of the stock indices and the amount of trading turnover, could be significantly influenced by the financial results of domestic companies, primarily thinking of HT, whose figures will be announced today,” says Kalajžić.
And on Wall Street, stock prices rose yesterday after news that U.S. President Donald Trump and European Commission President Jean-Claude Juncker agreed to start negotiations to remove tariffs and other trade barriers between the U.S. and the European Union.
>>>ZSE: Strong Growth of Crobex, Focus on Podravka
– The meeting took place in the evening, and the conversation between the two leaders bore fruit, making it more than likely that the so-called trade war between the U.S. and the EU will be avoided. The leaders emphasized that tariff issues will be resolved through negotiations, and there is a possibility that certain tariffs will be completely eliminated. The conclusions from the meeting, combined with good announcements of financial results, resulted in a strong rise in stock indices on Wall Street yesterday, says Mišo Kalajžić.
The Dow Jones strengthened by 0.7 percent, while the S&P 500 rose by 0.9, and the Nasdaq index by 1.2 percent.
And on European stock exchanges yesterday, ahead of the meeting between Trump and Juncker, stock prices fell. The London FTSE index weakened by 0.7 percent, while the Frankfurt DAX slid by 0.9, and the Paris CAC by 0.1 percent.
