Koncar boosts Croatian share indices

The regular turnover reached almost 3.0 million euro ($3.2 million) from 2.1 million euro on Wednesday.

The 20-share benchmark CROBEX added 0.93% to close at 2,755.56 points, its highest level in at least five years.

The narrower equity index CROBEX10, which tracks the top ten issuers in terms of free float, market capitalisation and liquidity, went up 1.08% to an all-time high, 1,648.27 points.

Koncar Elektroindustrija was the biggest daily gainer as it shares surged 7.96% to 244 euro in a turnover of 369,000 euro. Brokerage Interkapital Vrijednosni Papiri on Thursday morning said that its latest analysis of the Koncar group values the share at 274 euro, giving it a "strong" buy recommendation with a potential upside of 21.2%.

Ordinary shares of its subsidiary, power transformer manufacturer Koncar Distributivni i Specijalni Transformatori D&ST [ZSE:KODT] were the most traded issue with a turnover of 782,600 euro, as they surged 7.69% to 1,120 euro on the news that the company increased 150% its net profit last year. They are not part of the main equity indices.

Blue-chip shares of Ericsson Nikola Tesla dropped 2.39% to 204 euro in a turnover of 415,000 euro. The company announced on Thursday morning that its net profit last year rose 40%.

($ = 0.924 euro)