You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Croatia's Kras shares continue rally on ZSE, generate two-thirds of bourse turnover

Croatia's Kras shares continue rally on ZSE, generate two-thirds of bourse turnover Author: Zagreb bourse. License: All rights reserved.

ZAGREB (Croatia), September 19 (SeeNews) - Trading in the shares of Croatian confectionery producer Kras [ZSE:KRAS] contributed two-thirds (67%) of the total turnover of the Zagreb Stock Exchange (ZSE) on Thursday, as their price saw new sharp gains, ZSE data showed.

Kras' share price increased by 9.76% to 900 kuna in a turnover of 53.4 million kuna, data posted on the ZSE website showed.

Last week, Croatian meat producer Braca Pivac said it plans to launch a joint buyout bid with local trading company Kras-ESOP for the remaining stake of 50.82% in Kras the two firms do not own among themselves yet. The company's share price was below 400 kuna before the buyout plans were announced.

On Wednesday, Cyprus-registered Kappa Star, which is owned by Serbian businessman Nebojsa Saranovic, said it has acquired a stake of 5.35% in Kras.

The share indices of the ZSE rose on Thursday, as food producer Podravka [ZSE:PODR] led the blue-chip gainers for a second day in a row, bourse data showed.

The shares of Podravka closed 4.31% higher at 436 kuna.

Diversified holding Djuro Djakovic [ZSE:DDJH] paced the blue-chip losers, as its share price fell 3.85% to 7.50 kuna.

Hrvatski Telekom [ZSE:HT] contributed the highest portion of trading turnover among the blue chips on Thursday, of 6.1 million kuna, including a block transaction of 4.9 million kuna. The company's shares closed 0.92% lower at 161 kuna.

Thursday's turnover was also boosted by a block transaction in the shares of tourism company Valamar Riviera [ZSE:RIVP], of 2 million kuna. The company's shares closed at 36.90 kuna, up 0.54%. 

ZSE's total trading turnover jumped to 79.8 million kuna ($11.9 million/10.8 million euro), from 59.7 million kuna on Wednesday.

The 25-share benchmark CROBEX index rose by 0.18% to 1,897.16 after growing 0.42% in the previous trading session.

The narrower of the ZSE's two blue-chip indices, the CROBEX10, which tracks the leading companies in terms of free float, market capitalisation and liquidity, increased by 0.41% to 1,114.69 after advancing 0.67% on Wednesday.

The fixed-income CROBIS index added 0.06% to 116.8926.

(1 euro = 7.40228 kuna)