Croatia's Kras shares post more gains on ZSE in brisk trade

Kras shares appreciated 5.53% to 1,050 kuna in a turnover of 21.5 million kuna, data posted on the ZSE website showed. On Monday, they soared by 17.06% to 995 kuna.

On September 9, 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.

Earlier on Tuesday, Cyprus-registered Kappa Star, which is owned by Serbian businessman Nebojsa Saranovic, said it has raised its stake in Kras to 12.46% from 5.35%.

The ZSE share indices rose on Tuesday, as telecommunication services provider Optima Telekom [ZSE:OPTE] led the blue-chip gainers, bourse data showed.

Optima closed 6.3% higher at 6.75 kuna on Tuesday.

Power transmission equipment manufacturer Dalekovod [ZSE:DLKV] was the biggest blue-chip loser on Tuesday, for the second day in a row, as its share price fell 1.19% to 5 kuna. Dalekovod gained the most among the blue chips on Friday.

Food producer Podravka [ZSE:PODR] contributed the biggest portion of trading turnover among the blue chips on Tuesday, of 5.5 million kuna. The company's shares closed 0.65% lower at 458 kuna.

Tuesday's turnover was boosted by a block transaction in the shares of Hrvatski Telekom [ZSE:HT], of 3.4 million kuna. The company's share closed at 163 kuna, up 0.31%.

ZSE's total trading turnover almost halved to 41.3 million kuna ($6.1 million/5.6 million euro), from 80 million kuna on Monday.

The 25-share benchmark CROBEX index rose by 0.09% to 1,923.06 after growing 1.13% 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 0.14% to 1,134.36 after adding 1.39% on Monday.

The fixed-income CROBIS index lost 0.07% to 116.9791.

(1 euro = 7.40600 kuna)