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Croatian equity indices advance on gains in Podravka, AD Plastik

Author Annie Tsoneva
Croatian equity indices advance on gains in Podravka, AD Plastik Author: Podravka. License: All rights reserved.

ZAGREB (Croatia), September 27 (SeeNews) - The main equity indices of the Zagreb Stock Exchange (ZSE) ended higher on Monday, as gains in food and pharmaceuticals producer Podravka [ZSE:PODR] and car parts maker AD Plastik [ZSE:ADPL] offset losses in ICT solutions provider Ericsson Nikola Tesla [ZSE:ERNT], bourse data showed.

The ZSE's blue-chip 21-share benchmark CROBEX advanced 0.20% to end at 1,979.15 points.

The narrower of the ZSE's two blue-chip indices, the CROBEX10, which tracks the top 10 companies from the Crobex in terms of free float, market capitalisation and liquidity, went up 0.16% to finish at 1,210.52 points.

Podravka was the most traded stock with a turnover of 2.6 million kuna ($406,000/347,000 euro). Its shares rose 1.65% to end at 616 kuna.

According to local media reports and a report by brokerage house Fima, trading with the Podravka stock has intensified in the past few days as food retailer Mesna industrija Pivac (MIP) has been building up its stake in Podravka.

As Central Depository (SKDD) figures showed on Monday, MIP owns 194,673 Podravka shares on its custody account, which makes the company the eighth largest shareholder, Fima said in a comment to investors. MIP was not immediately available to comment.

ENT shares fell 0.88% to 1,685 kuna in a turnover of 1.06 million kuna in regular trading.

In block trading, 1,250 shares of ENT changed hands at a price of 1,700 kuna per share, generating a turnover of 2.1 million kuna. AD Plastik's shares rose 0.57% to 177 kuna in a turnover of 416,700 kuna.

The ZSE's turnover rose to 16.3 million kuna from 13.9 million kuna on Friday boosted by block trading with ENT shares.

(1 euro=7.502 kuna)