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Losses in Adris, Podravka weigh on Croatian equity indices

Author Annie Tsoneva
Losses in Adris, Podravka weigh on Croatian equity indices Author: Adris Grupa. License: All rights reserved.

ZAGREB (Croatia), September 13 (SeeNews) - Losses in diversified holding company Adris [ZSE:ADRS2] and food and pharmaceuticals producer Podravka [ZSE:PODR] weighed on the main equity indices of the Zagreb Stock Exchange (ZSE) on Monday, erasing part of their Friday gains, bourse data showed.

The ZSE's blue-chip 18-share benchmark CROBEX fell 0.21% to finish at 1,968.71 points.

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, declined 0.39% to end at 1,202.59 points.

The preferred shares of Adris, an index heavyweight, accounted for the biggest daily turnover on Monday, of almost 2.1 million kuna ($331,000/281,000 euro). Their price fell 2.35% to end at 415 kuna.

Atlantska Plovidba [ZSE:ATPL] was the second most liquid company, generating a turnover of 1.2 million kuna on Monday. Its shares gained 2.04% to finish at 500 kuna, following an increase of 5.15% on Friday. As of September 20, Atlantska Plovidba will be a constituent of the CROBEX10. Currently, it is part of the wider CROBEX.

Podravka's shares lost 0.33% to end at 598 kuna in a turnover of 163,000 kuna.

Shares of another shipping company, majority state-owned Jadroplov [ZSE:JDPL], surged 14.19% to end at 64 kuna in a turnover of 288,400 kuna on Monday following news that its the newly-appointed management will put on hold the company's ongoing capital increase through a share offering. The new management said it wants to check whether the phases of this process which have been completed so far are in line with the company's internal rules and the applicable regulations, and to asses the effects of the capital increase on the company's operations in the context of the current market conditions.

The ZSE's turnover amounted to 6.7 million kuna on Monday, slightly lower compared to 6.3 million kuna on Friday.

(1 euro=7.478 kuna)