Highlights:
- Sideways trading was seen on the market, the CROBEX down 0.07%
- Orco transfers contract on Obonjan Riviera to Suncani Hvar
- Construction works increased 15% y/y in July
market comment:
After increased volatility and intensive movements seen in the last couple of days, the Croatian equity market was characterized by sideways trading, accompanied by lower investor activity and liquidity levels. The market recorded a total of HRK 62mn in total regular turnover, which halved compared to the day before, with only 8 stocks exceeding HRK 1mn in turnover. The CROBEX closed again in the red territory, but with only a minor loss, declining 0.07% to 3,088 points. Strong performances among high turnovers were posted by ICT company Ericsson Nikola Tesla (+4.6%) and engineering company Duro Dakovic Holding (+4.2%). On the other hand, shipping company Atlantska plovidba and construction company Dalekovod performed poorly, losing 2% and 1.8%, respectively. Oil company INA was in focus again on Wednesday, accounting for more than half of the total regular turnover, closing with a 0.2% decline, HRK 25 lower than MOL's offer.
market outlook:
The Croatian equity market could witness sideways trading again on Thursday, as it seems that situation on the world equity markets might be stabilizing.
Corporate news:
Orco transfers contract on Obonjan Riviera to Suncani Hvar
Tourism company Suncani Hvar announced yesterday on the Zagreb Stock exchange that it signed an agreement with Orco Property Group on September 22, according to which Orco transferred to Suncani Hvar the contract on realization of the Obonjan Riviera project. By signing this agreement, Suncani Hvar accepted all rights and obligations that Orco had based on the contract. Also, Orco transferred its 90% ownership stake in Obonjan to Suncani Hvar.
Construction works increased 15% y/y in July
According to data published by the Central Bureau of Statistics, construction work in Croatia increased by 15% y/y in July. On the cumulative level, construction works increased by 12.6% y/y in the first 7 months in 2008, with construction of buildings accounting for 47.6% of total works. Construction of new objects accounted for 62.8%, while reconstruction, reparation and maintenance accounted for the rest.
Crobex (chart, table)
Top 10 Turnovers (table)
Top 5 Winners (table)
Top 5 Losers (table)
Croatian Equity Daily (table)
*****
To view the original document, please click on the link below:
http://reports.aiidatapro.com/CBB/ErsteSecurities/Daily_25_09_2008.pdf
*****
Copyright: Erste Securities Zagreb, Croatian Equity Daily, Thursday, May 31, 2007 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
*****
AII Data Processing does not endorse in any way, the views, opinions or recommendations expressed above. The use of the Information is subject to the terms and conditions as published by the original source, which you have to read and accept in full prior to the execution of any actions taken in reliance on Information contained herein.
 | SeeNews SeeNews is a business and financial news and information provider which brings its visitors and customers access to detailed coverage on the fast-growing companies, economies and markets of ten Southeast European nations. |
Search for: market |
Search for: company |
Search for: exchange |
Search for: chart |
Search for: sales |
Search for: Croatia |
Daily 25 09 2008.pdf, 190 Kb
