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Nov 27, 2007 19:17 EEST
November 27 (SeeNews) - Croatian share indices and turnover declined on Tuesday on political uncertainty after Sunday's general elections failed to show a clear winner and amid a mixed performance on global equity markets, traders said.
The ruling conservative HDZ party could get some 35% of the votes and the main opposition Social Democratic Party some 32%, partial results showed. Each of them seeks partners to form a cabinet.
"Two factors impacted the Croatian market - the outcome of the elections, that is still to be seen, and losses on some global markets," Zvonimir Maric, board member of brokerage KD Asset Management, told SeeNews. U.S. share indices opened lower but later recovered, while British and German indices were mostly falling on Tuesday. The 30-share Crobex index of the Zagreb Stock Exchange (ZSE) was down 1.64% at 4,651.57 points and the Croemi 20-share index, calculated by commercial bank Raiffeisenbank Austria, lost 1.18% to 3,818.83 points. Each of them has gained some 42% since the beginning of the year.
The narrowest CROX index of the seven most traded stocks on the ZSE, which the Vienna Stock Exchange launched this summer, shed 1.43% to 2,455.32 points in euro terms.
Shares of telecommunications group T-HT % fell 1.43% to 340.05 kuna on the biggest daily turnover, 11.6 million kuna.
Blue-chip telecoms equipment maker Ericsson Nikola Tesla fell 2.44% to 2,800 kuna on the second highest turnover, 8.3 million kuna. Ratings agency Standard & Poor's said on Tuesday that it has revised to negative from stable its outlook on Swedish telecommunications equipment supplier Ericsson, which owns almost 50% of Tesla.
Civil engineering institute IGH rose further, adding 0.85% to 11,800 kuna on almost 5.0 million kuna of turnover. The HDZ party has promised to continue huge investment in infrastructure, which could benefit some Croatian construction firms.
Oil and gas company INA, an index heavyweight, fell 0.77% to 2,451 kuna on only 2.3 million kuna of turnover.
Turnover in shares and bonds in floor trading fell to 78.3 million kuna ($15.9 million/10.7 million euro) from 111.7 million a day earlier.
Overall fallers outnumbered risers by 62 to 37 and 22 shares remained unchanged.
The fixed-income Crobis index ended at 95.87 points, down 0.34%.
(1 euro=7.3216 Croatian kuna)
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