Croatian share indices decline, Zvecevo shines

The 21-share benchmark, the CROBEX, closed 0.64% lower at 2,795.67 points.

The narrower equity index CROBEX10, which tracks the top ten issuers in terms of free float, market capitalisation and liquidity, dropped 1.05% to 1,669.86 points.

Blue chip hotel owner and manager Valamar Riviera [ZSE:RIVP] was the most traded company with a turnover of some 364,300 euro ($395,900) as its shares rose 0.40% to 5.06 euro.

Shares of confectionery producer Zvecevo [ZSE:ZVCV] soared 50% to 37.80 euro in a turnover of 111,500 euro on the news that Croatia's financial market regulator HANFA has allowed holding company Flexway Adriatic, a subsidiary of UAE-based company Flexway DMCC, to make a takeover bid for the 24.75% stake it does not already own in it. Flexway Adriatic offers in its bid 38.71 euro per Zvecevo share.

Zvecevo is not part of the main stock indices.

The regular turnover reached 804,300 euro from 782,000 euro on Tuesday, but remained relatively low.

($ = 0.920 euro)