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Croatia's Kras shares continue to trade heavily on ZSE

Croatia's Kras shares continue to trade heavily on ZSE Zagreb Stock Exchange (ZSE)

ZAGREB (Croatia), September 20 (SeeNews) - Trading in the shares of Croatian confectionery producer Kras [ZSE:KRAS] contributed 58% of the total turnover on the Zagreb Stock Exchange (ZSE) on Friday, as its shares fell sharply, bourse data showed.

Kras lost 5.56% to 850 kuna in a turnover of 9.2 million kuna, data posted on the ZSE website showed. On Thursday, they appreciated by 9.76% to 900 kuna. 

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 shares were trading below the 400 kuna mark 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 ZSE indices rose on Friday, as power transmission equipment manufacturer Dalekovod [ZSE:DLKV] led the blue-chip gainers, bourse data showed.

The shares of Dalekovod closed 3.52% higher at 5.30 kuna.

Food producer Podravka [ZSE:PODR] paced the blue-chip losers, as its share price fell 0.92% to 432 kuna. On Wednesday and Thursday Podravka was the biggest blue-chip gainer. 

Hrvatski Telekom [ZSE:HT] contributed the biggest portion of trading turnover among the blue chips on Friday, of 747,368 kuna. The company's shares closed 0.62% higher at 162 kuna.

ZSE's total trading turnover plummeted to 15.7 million kuna ($2.3 million/2.1 million euro), from 79.8 million kuna on Thursday.

The 25-share benchmark CROBEX index rose by 0.14% to 1.899.75 after growing 0.18% 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 0.22% to 1,117.18 after advancing 0.41% on Thursday.

The fixed-income CROBIS index added 0.04% to 116.9441.

(1 euro = 7.40075 kuna)