Croatian Equity Indices Dip

"Today's session on the Zagreb Stock Exchange was marked by increased volatility, with the benchmark [CROBEX] moving in a 1,740 – 1,780 band and finishing 0.2% down [at 1,756.75]," said an analyst with Fima Fas consultancy.

The CROEMI 20-share index, calculated by Raiffeisenbank Austria, was down 0.28% to 1,587.45.

The narrowest index, CROX, which tracks the 12 most traded stocks on the Zagreb market and is calculated by the Vienna bourse, fell 0.74% in euro terms to 1,059.48 points.

Telecommunications company T-HT, an index heavyweight, appreciated 2.22% to 211.60 kuna on the day’s largest turnover of 5.1 million kuna.

Another blue-chip, shipping company Atlantska Plovidba, shed 2.3% to 679 kuna on turnover of 3.8 million kuna. The other shipping companies in the CROBEX followed suit with Tankerska Plovidba down 2.5%, Jadroplov losing 2.11% and Uljanik Plovidba falling 4.2%. “A further BDI decline affected negatively the domestic shipping companies […],” the Fima analyst said. The Baltic Dry Index (BDI) measures world freight rates for dry cargo.

Power transmission equipment maker Dalekovod rose 4.47% to 408.49 kuna on 2.8 million kuna of turnover.

Turnover in floor trading rose to 57.1 million kuna ($10.9 million/7.8 million euro) from 24.7 million kuna on Monday thanks to trading in bonds.

The fixed-income CROBIS index firmed 1.82% to 90.67.

The bourse will be closed on Thursday and Friday for the Christmas holidays.

(1 euro = 7.2820 Croatian kuna)