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Gains in Atlantic Grupa buoy Croatian equity indices

Author Annie Tsoneva
Gains in Atlantic Grupa buoy Croatian equity indices Author: Atlantic Grupa. License: All rights reserved.

ZAGREB (Croatia), September 9 (SeeNews) - The main equity indices of the Zagreb Stock Exchange (ZSE) gained ground on Thursday on the back of a rise in the share price of blue-chip distributor of fast-moving consumer goods Atlantic Grupa [ZSE:ATGR], bourse data showed.

The ZSE's blue-chip 18-share benchmark CROBEX advanced 0.12% to close of 1,956.95 points after a decline on Wednesday.

The narrower of the ZSE's two blue-chip indices, the CROBEX10, which tracks the top companies in terms of free float, market capitalisation and liquidity, finished just 0.01% higher at 1,200.42 points, halting a three-day losing streak.

Shipping company Atlantska Plovidba [ZSE:ATPL] was the most liquid share on Thursday, marking a turnover of 1.06 million kuna ($292,000/214,000 euro). Its shares rose 0.87% to finish at 466 kuna.

Shares of Atlantic Grupa rose 0.68%, ending at 1,490 kuna in a turnover of 315,600 kuna. On Wednesday, the company announced a change in its dividend policy, lifting the ceiling of their payout ratio from 25% to 45%, Zagreb-based brokerage form Intercapital said on Thursday in a note to investors.

However, the dividend payout will depend on the situation on the capital market, as well as the growth of net profit, revenue levels, expected increase of Atlantic Grupa’s property value and other relevant factors.

The ZSE's turnover fell to 3.8 million kuna from 4.6 million kuna on Wednesday.

(1 euro=7.484 kuna)