Highlights:
- The CROBEX down 0.6%, HRK 25mn in turnover
- ENT – HRK 85mn contract with Crnogorski Telekom
- MoF issued HRK 679mn and EUR 5mn in tbills
market comment:
The Croatian equity market witnessed a negative sentiment yesterday, with benchmarks and most of the stocks recording losses. market liquidity somewhat weakened compared to a day earlier, with total regular turnover on the Zagreb Stock exchange amounting to HRK 25mn and only three stocks collecting more than HRK 1mn in traded value. After growing slightly for three straight days, equity benchmarks closed in the red territory, with the CROBEX down 0.6% to 2,126 points. Telecom T-Hrvatski Telekom again dominated the market in terms of activity, generating almost HRK 10mn in traded value and gaining 1.2%. Companies in the construction sector performed weakly and were the biggest burden to benchmarks, particularly Institut IGH, which dropped 6.6%, as well as Tehnika and Ingra, which declined around 5% and 3%, respectively. Shares of the second-biggest Croatian bank PBZ were among rare winners yesterday with a gain of 1.3%, while the best performances were seen by confectionery producer Kras (+5.5%) and SN Holding, which surged 11.4%.
market outlook:
Sideways trading could be seen on the Croatian equity market today.
Corporate news:
ENT – HRK 85mn contract with Crnogorski Telekom
Ericsson Nikola Tesla and Crnogorski Telekom signed contracts for the continuation of their cooperation in the next four years. Thus, the latest Ericsson solutions will be available to T-Mobile CG. Also, the support services for TMobile CG and T-Com CG were contracted. The total value of the signed contracts amounts to more than HRK 21mn per year, which means almost HRK 85mn in the four years to come. This contract is the second larger one within the last few weeks as the company has announced a HRK 65mn contract with Beltelecom for the delivery of infrastructure equipment at the end of February, to be delivered by April this year. Daniel Lion CIIA, +43(0)50100 17420
MoF issued HRK 679mn and EUR 5mn in t-bills
The Croatian Ministry of Finance held yesterday an auction of t-bills, at which a new 364-day t-bill of HRK 397mn was issued, yielding 3.50%, the same yield as at the prior auction. Also, MoF issued euro-denominated 364-day paper worth EUR 5mn, yielding 3.35%, 1bps less than at the prior auction. Moreover, MoF issued papers with maturities of 91 days and 182 days, worth HRK 157mn and 125mn, yielding 2% and 3%, respectively.
CROBEX (chart, table)
Top 10 Turnovers (table)
Top 5 Winners (table)
Top 5 Losers (table)
Croatian Equity Daily (table)
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To view the original document, please click on the link below:
http://reports.aiidatapro.com/CBB/ErsteSecurities/Daily_10_03_2010.pdf
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Copyright: Erste Securities Zagreb, sales : Zeljka Kajkut-Brni Phone: +385 62 37 2811 kajkutz@erstebank.com Damir Eror Phone: +385 62 37 2813 erord@erstebank.com Research: Damir Cukman Phone: +385 62 37 2820 cukmand@erstebank.com Davor Spoljar Phone: +385 62 37 2825 dspoljar@erstebank.com
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Daily 10 03 2010.pdf, 185 Kb
