Daily comment:
Domestic popular benchmark fell for the 3rd consecutive day. With today’s 1,3% decline, CROBEX lost 2,4% this week and 34% YTD. Beside pessimistic mood, low turnover remains to be a main characteristic of domestic capital market as total stock turnover amounted to HRK 36,4 million (HRK 26,2 m ordinary turnover and HRK 6,2 m in block turnover with Varazdin based fashion company Varteks (VART-R-1). Polymer producer Dioki (DIOK-R-A) was among the most liquid issues as it collected HRK 1,1 million in turnover. Its price increased by 8,4% fueled by newspapers speculations that location for LNG terminal will be chosen next week. Officially it is unknown where the terminal will be placed, but newspapers are speculating that Omisalj, a location where the company holds a significant amount of land, is the most probable location. Suger producers IPK Kandit (IPKK-R-A) and Viro (VIRO-R-A) delivered mixed results with IPKK gaining 4,3% while Viro lost 0,6%. Both of these companies submitted takeover bids in privatization of 38% of government owned Zupanja based sugar producer Sladorana. Even though IPK Kandit offered higher takeover price, Viro’s offer includes stronger investment plan and better guaranty package. Decision maker between these two offers is Croatian privatization Fund. Profit taking on oil company Ina (INA-R-A) pushed this stock down by 1,9% to end at HRK 2.760 collecting HRK 2,8 million in turnover, where Probable absence of bidding for Ina decreased interest for this issue. Further decline of BDI index pushed down prices of Croatian shipping companies with Split based Jadroplov (JDPL-R-A) losing 0,2%, Pula based Uljanik plovidba (ULPL-R-A) lost 0,6% while Dubrovnik based Atlantska plovidba (ATPL-R-A) remained unchanged.
news flash:
- Taylor Wimpey hit by massive loss
- Rise in US durable goods orders
- Ricoh Buys Office Equipment Distributor in U.S.
- research company Loses One Suitor and Rejects Another
CROBEX index - Zagreb Stock exchange -1,3%
change in 2008. -34,0%
CROBEX index - Zagreb Stock exchange (chart)
Avg price change for CROBEX members (chart)
market multiples - shares (tables)
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FIMA FAS Ltd.
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http://www.fima.com
e-mail: fima-fortis@fima.com
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stock report20080827.pdf, 109 Kb
