ZSE Indices Recover at End of Another Bad Week

Total Croatia News

ZAGREB, March 14, 2020 – The main Zagreb Stock Exchange (ZSE) indices on Friday increased by approximately 6%, recovering in part after the previous day’s losses which exceeded 10%, however, on the weekly level they sank for the third week in a row, by nearly 17%.

On Friday, the Crobex index rebounded by 5.78% to 1,512 points, and the Crobex10 by 6.04% to 902 points. All sector indices were in the green today, and the building sector increased the most, by 8.26%.

The main stock exchange indices recouped a part of the previous day’s losses, when they sank by more than 10% in the first minutes of trading, to their lowest levels in the last 11 years. Consequently, the ZSE suspended trading for an hour yesterday, and afterwards, the Croatian Financial Services Supervisory Agency (HANFA) decided to suspend trading until the end of the day.

Including the previous day’s decrease, the ZSE indices plunged by 16.9%, and, consequently, around HRK 13.8 billion of stock market value was deleted from the stock exchange.

On Friday morning trading was resumed, and in the course of the day indices soared by up to 7.5%. Their recovery today was for the largest part stimulated by the recovery of stock prices at the European stock exchanges, which followed yesterday’s record fall, and which was influenced by investors’ hope that the measures adopted by a series of central banks and governments in the world would mitigate the impact of the coronavirus pandemic on the economy.

At the Zagreb Stock Exchange, regular turnover reached HRK 52.9 million, and almost HRK 53 million was realised in block trading.

The Adris Group stock realised HRK 35 million in regular trading, followed by the Valamar Riviera hotel group stock (HRK 8.5 million), the Podravka food and pharmaceutical company stock (HRK 3.35 million), Končar Electrical Industry (HRK 3.23 million), and Arena Hospitality Group (HRK 2.86 million).

The HT Telecom stock was the most liquid in regular turnover, realising HRK 9.24 million, with its price rising by 3.73%, to HRK 153 per share.

The Valamar Riviera hotel group stock turned over HRK 8.3 million, and its price increased by 10.68% to HRK 22.8 per share.

The Podravka food and pharmaceutical company stock turned over HRK 6.83 million, and its price skyrocketed by 16.56% to HRK 373 per share, making it the winner among the most liquid stocks.

More business news can be found in the dedicated section.


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