Thursday, 7 October 2021

ZSE Indices Climb Slowly for Sixth Day in a Row

ZAGREB, 7 Oct 2021 - The main Zagreb Stock Exchange (ZSE) indices strengthened mildly on Thursday with the Crobex increasing for the sixth day in a row amid a somewhat lower turnover than the day before.

The Crobex strengthened by 0.24% on Thursday to 2,038 points while the Crobex10 increased by 0.32% to 1,249 points.

The Crobex continued its climb for the sixth day in a row reaching its highest level since February 2020 while the Crobex10 reached its highest level since March 2017.

The transport sector index registered an increase of 1.99% while the construction index decreased by 1.7%.

Regular turnover amounted to HRK 11.3 million or about 2.2. million less than on Wednesday.

The most liquid stock was the Valamar Rivijera hotel group with a turnover of HRK 2.65 million. The price of its shares jumped by 0.64% to HRK 31.4.

The HT telecommunications stock generated a turnover of HRK 1.17 million. The price of its shares remained at HRK 190.

The only other stock to cross the million kuna mark was the Atlantska Plovidba shipping company with a turnover of 1.09 million. The price of shares plunged by 2.12% to close at HRK 554.

Forty-four stocks traded today - 16 gaining in price and 19 decreasing, while 9 remained stable.

(€1 = HRK 7.495808)

For more about business in Croatia, follow TCN's dedicated page.

Friday, 21 May 2021

Crobex Drops by 0.5% as Dalekovod Shares Plunge in Price

ZAGREB, 21 May 2021 - The Zagreb Stock Exchange Crobex index ended the last trading day of the week by going down by 0.5%, due to a drastic fall in the price of the Dalekovod transmission line producer's shares of 59%.

 The Crobex index fell by 0.52% to 1,943 points while the Crobex10 remained stable at 1,200 points.

Nevertheless the main indices ended the week in the green, with the Crobex strengthening by 0.18%, increasing for the fifth week in a row, while the Crobex10 increased by 0.6% on the week.

Regular turnover amounted to HRK 5.8 million or about one million less than on Thursday.

Investors focused on the Dalekovod stock, which generated a turnover of HRK 1.25 million. The price of Dalekovod shares, however, plunged by 59.14% to close at HRK 2.37 per share.

Dalekovod has called a meeting of its shareholders' assembly for 30 June to decide about capital stock reduction and an increase in the capital stock.

The greatest turnover was generated with the preferred shares of the Atlantska Plovidba shipping company, amounting to HRK 1.36 million. Their price dropped by 1.33% to HRK 372.

A total of 42 stocks traded today, with 12 of them registering share price increases, 16 recording share price decreases and 14 remaining unchanged.

(€1 = HRK 7.508080)

For more about business in Croatia, follow TCN's dedicated page.

Friday, 5 March 2021

Zagreb Stock Exchange Indices Drop Amid Slightly Higher Turnover

ZAGREB, 5 March, 2021 - The main Zagreb Stock Exchange (ZSE) indices fell on Friday amid a slightly higher turnover than the previous day, with the Crobex dropping by 0.85% to 1,829 and the Crobex10 by 0.52% to 1,139.

Week-on-week, the Crobex slid by 0.2%, while the Crobex10 increased by 0.63%.

All sectoral indices finished the day in the red, with the tourism index showing the biggest decline, of 1.35%.

Today's regular turnover was HRK 5.7 million, or HRK 1.7 million more than on Thursday.

The stock of the HT telecommunications company was the only one to cross the one million kuna mark, and it generated a turnover of slightly more than HRK 2 million. Its price went up by 1.1% to HRK 183 per share.

The company today said that a meeting of the Supervisory Board would be held on Tuesday, 9 March, when annual financial reports and the proposal for the use of profit for 2020 would be determined, and on Wednesday the revised financial reports the proposal for the use of profit would be published.

The stock of the Valamar Riviera tourism company turned over HRK 773,000, its price dropping by 2.62% to HRK 29.7 per share.

Thirty-eight stocks traded today, with 10 of them registering share price increases, 22 recording price decreases and sixremaining stable in price.

(€1 = 7.576668)

Wednesday, 3 March 2021

Zagreb Stock Exchange: Indices Rise For a Second Day In a Row

ZAGREB, 3 March, 2021 - Amid a quiet trading day on the Zagreb Stock Exchange on Wednesday, the main indices increased mildly, the Crobex by 0.17% to 1,844 points and the Crobex10 rising by 0.06% to 1,146 points.

Regular turnover amounted to a modest HRK 4.68 million or about HRK 200,000 less than on Tuesday.

Not one stock crossed the million kuna mark.

The biggest turnover of HRK 843,000 was generated by the Podravka food producer. The price of Podravka shares increased by 1.18% to close at HRK 516 per share.

(€1 = HRK 7.571693)

Wednesday, 18 November 2020

Investors Can Now Invest in Best Slovenian Shares in Croatian Kuna

As Poslovni Dnevnik writes on the 17th of November, 2020, the listing of the first two ETFs or exchange traded funds has finally started on the Zagreb Stock Exchange. This news was announced half a year ago by the head of Hanfa, Ante Zigman, confirming that Hanfa had received a request for approval of the listing prospectus. This means that the best Slovenian shares can now be invested in in the Croatian national currency.

The first Croatian listing of "exchange traded funds", whose shares are traded on the stock exchange as well as all other shares, was taken care of by the InterCapital group, ie its asset management company (ICAM).

One ETF will be linked to CROBEX 10tr, ie the index of the 10 most liquid shares on the ZSE, and the other to its Slovenian counterpart, SBITOP, which includes the 11 most traded Slovenian shares, often referred to as the best Slovenian shares.

An effective instrument

As the ETF usually monitors the performance of the selected stock index, this marks a type of passive investment, which makes this product especially suitable for small investors who want to invest in the shares of the best companies, but don't have enough knowledge and other resources to invest in individual stocks.

A similar argument usually accompanies "classic" index funds, but primarily due to technological features, investing through ETFs is, among other things, far simpler, so ETFs have been the fastest growing segment of the asset management industry globally for a long time.

In the thirty years since the first ETFs appeared in the world, their number to date has exceeded 2,300.

Industry associations, on the other hand, estimate that in the next five years, their assets will exceed those of actively managed traditional funds, according to ICAM. With about 15 years of experience in this business and about three billion kuna of assets under management, they are known as the leading independent "asset manager" here in Croatia, and with this recent very significant step forward, they say, they're opening a new page in terms of doing business.

Although the stock industry in Croatia has seen far better days, especially in the segment of equity funds and when it comes to small investors whose confidence has been shaken considerably in the economy-rattling case of Agrokor, InterCapital believes that things could change with the benefits provided by ETFs as a cost an effective financial instrument.

They hope that Croatian investors, in addition to simply entering and exiting the ETF or the fact that the dividends it collects are non-taxable, will recognise the opportunity to buy the best Slovenian shares in kuna through the ETF, see the opportunity to buy the best Slovenian shares in Croatian kuna, without the need to hire a custodian, exchange kuna for euros and pay withholding tax in neighbouring Slovenia.

They also take into account the fact that the launch of ETFs on the stock exchange comes at a time of historically low interest rates. Stock yields from the CROBEX10 or SBITOP index over the past 10 years support such expectations.

For example, those from CROBEX10 in that period paid an average annual dividend of 4 percent of the investment, while the dividend yield for Slovenian shares in the same period was 5 percent. This year, which has been marked by an ongoing global pandemic, the dividend yield of the CROBEX10tr index is 1.5 percent, and the SBITOP index 4.2 percent.

"Guided by our mission to develop the domestic capital market through innovation and the application of international asset management industry best practices, we've developed a product that we firmly believe will be extremely attractive to all potential investors," said Hrvoje Cirjak, ICAM Board Member.

He added that their intention is to list the same two funds over on the Ljubljana Stock Exchange next year, which will enable the ease of investing in Croatian shares for Slovenian investors. With the listing of the first ETFs on the ZSE comes new terms such as indicative NAV (iNAV).

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