Croatian Share Indices Drop More Than 1% Each, Turnover Grows
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Loading... - Jason Chloros
- 04 Feb 2025
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The two main share indices of the Zagreb Stock Exchange experienced declines of over 1.0% each on Monday, driven by losses in most blue-chip stocks, according to bourse data.
The bourse’s 19-share equity benchmark, the CROBEX, fell by 1.17%, closing at 3,440.77 points. This decline follows a peak on Friday, which marked the highest value for the index in at least five years. Similarly, the narrower blue-chip CROBEX10 index closed at 2,164.88 points, down 1.27% from its all-time high achieved in the previous trading session.
Koncar [ZSE:KOEI], a leading electrical concern, was the most actively traded company, with a daily turnover of 421,300 euro (approximately $434,000). However, its shares dropped 1.83% to 535 euro. Koncar had been a significant contributor to the recent rally in share indices, with its stock gaining 15.30% over the past month and more than 157% over the past year. Notably, the European Commission announced on Monday the approval of a joint venture between Koncar and Siemens Energy Holding B.V. for the production and sale of power transformer tanks.
Zagrebacka Banka [ZSE:ZABA] followed as the second most traded stock, with a turnover of approximately 257,000 euro. Its shares closed 0.67% lower at 29.50 euro.
In contrast, AD Plastik [ZSE:ADPL], a car parts manufacturer, was the only gainer among the ten most traded issues. Its shares rose 0.48% to 10.55 euro on the news of a new deal with a customer in the European market, expected to generate revenue of 126.8 million euro.
The bourse's regular daily turnover reached 2.4 million euro, a significant increase from 1.3 million euro in the previous trading session, indicating heightened trading activity despite the overall decline in share prices.
The drop in Croatian share indices on Monday reflects a broader trend of volatility in the market, particularly among blue-chip stocks. Despite the declines, the increase in trading turnover suggests active investor engagement, particularly in key companies like Koncar and AD Plastik. As the market continues to navigate these fluctuations, investors will be closely monitoring developments in both domestic and international contexts.
