Croatian Bourse Indices Gain More Than Three Percent in Low Liquidity

"The CROBEX commenced the week on a positive [note] on broad-based market gains, albeit on somewhat weaker volumes," said an analyst with Hypo Alpe-Adria-Bank.

The 28-share CROBEX index of the Zagreb bourse rose 3.42% to end at 1,674.61 points.

The CROEMI 20-share index, calculated by Raiffeisenbank Austria, was up 3.02% to 1,522.88 points.

The narrowest index, CROX, which tracks the 12 most traded stocks on the Zagreb market and is calculated by the Vienna bourse, advanced 3.16% in euro terms to 1,027.30 points.

Telecommunications company T-HT, an index heavyweight, moved 0.52% higher to 195 kuna on the day’s largest turnover of 6.8 million kuna.

Shipping company Atlantska Plovidba surged 8.62% to 630 kuna on 3.7 million kuna of turnover. "Atlantska Plovidba ignited investors' interest and closed the session on its daily high as the shipper's CEO announced that he expects FY08 net profit to come in at $150 million versus $44.5 million in 2007 on wings of the shipping segment," the analyst said, commenting on reports in the media. The tourism arm is expected to deliver somewhat weaker figures this year amid investments in Hotel Lapad, while the airline division is also expected to post somewhat weaker results on yearly basis. Additionally, the management announced that the company might deliver a $30 million loss in 2009 should the dry bulk freight rates remain at current levels, the analyst added.

Power transmission equipment maker Dalekovod jumped 9.21% to 319.99 kuna on 1.7 million kuna of turnover.

Turnover in floor trading fell to 24.1 million kuna ($4.5 million/3.4 million euro) from 25.6 million kuna on Friday.

The fixed-income CROBIS index was down 0.29% to 89.59 points.

(1 euro = 7.1824 Croatian kuna)