Crobex indices surged, with Podravka’s stock leading the gains

On the Zagreb Stock Exchange on Thursday, the main stock indices surged, with Crobex breaking a three-day negative streak, largely thanks to a jump in Podravka’s stock price of over seven percent.

The Crobex index rose by 1.29 percent on Thursday, to 2,460 points, breaking a three-day negative streak. At the same time, Crobex10 jumped by 2.07 percent, to 1,486 points. All sector indices rose, with Crobexnutris leading the way, up 2.45 percent.

Regular trading volume amounted to 1.94 million euros, which is about 140,000 more than the previous day.

The increase in trading volume and indices is primarily attributed to trading in Podravka’s stock. This stock achieved a trading volume of 1.04 million euros, and its price surged by 7.27 percent to a record 147.5 euros, making it the biggest winner. Recently, the company has frequently reported buying its own shares on the market.

Following with a trading volume of 222,000 euros is Valamar Riviera’s stock, which stagnated at 4.33 euros. The price of Končar EI’s stock also stagnated at 178 euros, with a trading volume of 148,000 euros.

Investor focus was also on HT’s stock, which traded for 93,000 euros, with its price rising by 0.38 percent to 26.1 euros. Among the more liquid stocks, the largest price drop was recorded by Ilirija’s stock, down 3.33 percent to 23.2 euros.

Personnel news from HPB and INA

From business announcements, Hrvatska poštanska banka (HPB) reported today that due to the expiration of the current Management Board’s mandate on September 12, 2023, the Government proposed to the Bank’s Supervisory Board the reappointment of Marko Badurina as CEO and Ante Mihaljević, Ivan Sold, Tadija Vrdoljak, and Josip Majher as members of the Management Board.

As further reported, the Bank’s Supervisory Board will initiate the process of appointing new Management Board members and will submit a request to the Croatian National Bank for prior approval to perform the functions of the president and members of the management of the credit institution. The price of HPB’s stock rose by 0.52 percent to 193 euros, and with a trading volume above 49,000 euros, it ranked among the 10 most liquid stocks.

From INA, it was reported that Nikola Mišetić was dismissed from the position of operational director of Oil and Gas Exploration and Production as of August 31, 2023, while Saša Matić was appointed as the acting operational director of Oil and Gas Exploration and Production from September 1. There was no trading in INA’s stock today.

On the ZSE today, a total of 31 stocks were traded, with 15 prices rising, eight falling, and the same number stagnating.