Thursday, 16 March 2023

Zagreb Stock Exchange Expecting Stagnation After Credit Suisse Collapse

March 16, 2023 - Cautious trading is expected on the Zagreb Stock Exchange on Thursday, where the Crobex index could stagnate, and the focus of investors will be events on world stock exchanges, which could recover after yesterday's sharp fall.

As Index reports, all analysts who participated in the Hina survey today expect Crobex to stagnate.

The Crobex index sank on Wednesday by 1.76 percent, to 2,218 points, and Crobex10 by 1.73 percent, to 1,267 points.

It was the biggest daily decline of these indices in the last two months, and they slipped to the lowest levels since February 27.

At the same time, all sector indices also fell, with Crobextransport seeing the most significant change of 4.87 percent.

Regular share turnover amounted to approximately 1.37 million euros, about 100 thousand more than the day before.

"The main stock indices on the Zagreb Stock Exchange ended yesterday's trading in the 'red', following the negative sentiment that prevailed on foreign markets. The total turnover amounted to EUR 1.4 million. Almost the total amount related to the trading of shares, while bonds were traded in the amount of only 5 thousand euros," points out Miso Kalajzic, head of brokerage trading at OTP bank.

The highest turnover achieved by the HT share

The highest turnover, 177 thousand euros, was achieved yesterday by the HT shares, whose price fell by 0.78 percent to 25.50 euros.

With a turnover of 163.5 thousand euros, Span shares followed, whose price sank by 2.58 percent to 49.1 euros.

The focus was also on the Podravka shares, with which EUR 146,000 was realized, with the price falling by 2.17 percent to EUR 90.

Shares of Atlantska Plovidba achieved more than 100,000 euros in turnover, whose price fell by almost three percent to 58.6 euros.

The biggest loser was the share of Alpha Adriatic, with a price drop of 10.5 percent to 23.8 euros.

The share price of the Zagreb Stock Exchange rose the most, by 2.7 percent, to 3.8 euros.

A total of 37 shares were traded on the Zagreb Stock Exchange yesterday, of which the price of only four rose, 25 fell, and eight stagnated.

"For today, we predict stagnation in the movement of stock indices, whereby the direction could largely depend on the sentiment on foreign markets," said Miso Kalajzic.

Fear of a banking crisis weighed on world stock markets

Thus, yesterday, Crobex followed the sharp decline of European stock market indices. The London FTSE slipped 3.8 percent, while the Frankfurt DAX sank 3.3 and the Paris CAC 3.6 percent.

Stock indices suffered sharp corrections on the most important European stock exchanges yesterday. The biggest losses were in the shares of the banking sector, continuing the crisis that started last week with the collapse of the SVB bank in the USA. Of yesterday's more important announcements, the growth of industrial production in the Eurozone stands out, which was somewhat better than expected, while in the USA, a drop in the rate of producer prices was recorded, as well as a drop in retail sales.

Stock prices fell on Wall Street on Wednesday. The Dow Jones lost 0.9 percent, and the S&P 500 lost 0.7 percent. The Nasdaq index gained 0.05 percent.

Recovery is expected

This morning, European futures indices are positive, which heralds the market's recovery after yesterday's sharp decline caused by the problems of the second-largest Swiss bank, Credit Suisse.

Credit Suisse's share price sank about 14 percent to record lows yesterday after the bank reported weaknesses in its financial statements for the past year, and the bank's biggest investor, Saudi National Bank, said it could not provide any further financial support aid to this Swiss bank.

This, along with the collapse of SVB at the end of last week, caused speculation about which other banks could be in trouble.

But fears of a banking crisis eased somewhat this morning after news that the Swiss central bank will open a nearly $54 billion credit line to Credit Suisse.

For more, make sure to check out our dedicated News section.

Friday, 18 March 2022

Zagreb Stock Exchange Indices Continue Rising

ZAGREB, 18 March (2022) - The main Zagreb Stock Exchange (ZSE) indices continued to rise on Friday, with the Crobex going up for the sixth trading day in a row, by 0.4% to 2,050 points, and the Crobex10 increasing for the eighth consecutive trading day, by 0.59% to 1,237 points.

Regular turnover amounted to HRK 11.8 million, or HRK 4.2 million more than on Thursday.

The HT telecom was the most traded stock, turning over HRK 2 million. Its price dropped by 0.26% to HRK 189 per share.

The Optika Telekom stock generated a turnover of HRK 1.99 million, closing at HRK 5.3 per share, up 1.15%.

The stock of the Podravka food company turned over HRK 1.3 million, closing at HRK 628, up 2.95%.

Forty-two stocks traded on the ZSE today, with 20 gaining and 12 losing in price, while 10 were stable.

(€1 = HRK 7.570296)

For more, check out our business section.

Friday, 4 March 2022

Zagreb Stock Exchange Indices Slump at End of Week

ZAGREB, 4 March (2022) - The main Zagreb Stock Exchange (ZSE) indices slumped again on Friday, after yesterday's brief recovery, thus increasing the loss on the week to about 4.5%, which is a consequence of the pressure of the Ukrainian crisis on the world stock market, as well as the domestic one.

The Crobex fell by 1.94% on Friday, to 1,946 points, its lowest level since August 2021. At the same time, the Crobex10 dropped by 1.86% to 1,176 points, its lowest level since April 2021.

All sector indices went down, and the construction index saw the biggest decline, of 2.87%.

Domestic indices thus followed the negative trends on European stock markets, which saw sharp declines, while investors follow the news on the war in Ukraine and assess the possible effects of that war on the world economy.

The Crobex indices also registered significant losses on the week for the third consecutive week. Compared with the beginning of the week, the Crobex fell by 4.69% and the Crobex10 by 4.5%.

Regular turnover amounted to HRK 14 million, or half a million less than on Thursday. Another HRK 23 million was generated by a block transaction with the HT telecom stock at HRK 184 per share.

The highest turnover, of nearly HRK 1.8 million, was generated by the stock of the Croatian Postal Bank (HPB). Its prices dropped by 2.37% to HRK 825.

Atlantska Plovidba turned over HRK 1.41 million, closing at HRK 412 per share, down 2.83%.

The stock of the Span IT company turned over HRK 1.4 million, closing at HRK 185.5, down 0.8%.

The price of the Ericsson Nikola Tesla stock also recorded a significant decline, by 3.7% to HRK 1,705 per share. It generated a turnover of HRK 1.26 million.

A total of 45 stocks traded on the ZSE today, with 10 gaining and 23 losing in price, while 12 were stable.

(€1 = HRK 7.568685)

For more, check out our business section.