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Zagreb stock indices tumble in wake of Russian assault on Ukraine

Author Annie Tsoneva
Zagreb stock indices tumble in wake of Russian assault on Ukraine Author: Zagreb bourse. License: All rights reserved.

ZAGREB (Croatia), February 24 (SeeNews) - The two main equity indices of the Zagreb Stock Exchange (ZSE) plunged by almost 6.50% each in brisk trading on Thursday, in sync with a slump of global stock markets prompted by the Russian invasion of Ukraine, ZSE data showed.

The 21-share blue-chip CROBEX dropped 6.48% to finish at 1,983.12 points. The narrower CROBEX10 which tracks the top ten companies in terms of free float, market capitalisation and liquidity, fell 6.47% to 1,201.42 points.

Hrvatski Telekom [ZSE:HT] was the most liquid share on the Zagreb bourse with a turnover of 4.7 million kuna on Thursday. The telco's share price fell 2.66% to 183 kuna as investors shrugged off the news that its net profit last year rose 4.5% to 615 million kuna.

Shares of blue-chip ICT solutions provider Ericsson Nikola Tesla [ZSE:ERNT] lost 6.45% to finish at 1,740 kuna in a turnover of 2.7 million kuna even though the company announced earlier on Thursday that its consolidated net profit rose 87.6% on the year in 2021, reaching 177.3 million kuna.

Shares of food and pharmaceuticals producer Podravka [ZSE:PODR] depreciated 8.54% to end at 600 kuna in a turnover of 2.5 million kuna.

Shares of shipping company Atlantska Plovidba [ZSE: ATPL] lost 11.52% to 384 kuna in a turnover of 2.2 million kuna. In a lower tunrover, another shipping company, Jadroplov [ZSE: JDPL], shed 17.91% of its share price.

Car part maker AD Plastik [ZSE: ADPL], which runs two production plants in Russia, was the biggest loser on Thursday with a 17.95% drop in share price. Its shares ended at 128 kuna in a turnover of 1.7 million kuna. The company published on Thursday its consolidated financial report for 2021 which showed that its net profit fell almost 53% last year.

Only two stocks ended with gains on Thursday. One of them was cereals trader and food producer Granolio [ZSE:GRNL], whose shares surged 42.14% to 39.80 kuna in a turnover of some 17,500 kuna.

The ZSE's total trading turnover rose to 37.6 million kuna from 10.4 million kuna on Wednesday, boosted by a 2.3 million kuna block trading in shares of Ericsson Nikola Tesla.

(1 euro=7.535 Croatian kuna)

Hrvatski Telekom d.d. is among the biggest companies in SEE, for more reference take a look at Top 100 companies


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