http://www.fima.hr FIMA - komentari RSS hr-HR Fri, 03 Sep 2010 06:00:20 GMT 25 Market comment
European stock benchmarks retreated in late afternoon hours, driven with Iceland’s credit rating cut by rating agency Standard & Poors. Commodity prices are mostly higher, while euro depreciated vs. U.S. dollar as a result of aforementioned rating cut. U.S. stock went higher after opening, as better than estimated data on home prices and consumer confidence bolstered optimism the economic recovery is accelerating.

ZSE’s equity indices closed with performance today. CROBEX added 0.1% to 2,137.1 pts and blue chip CROBEX10 closed at 1,152.7 pts, 0.1% down. Regular stock turnover amounted to HRK below average HRK 13.7 m.

Defensive plays attracted investors attention today: telco T-HT (HTRA ZA) added 0.6% collecting HRK 4.5 m in turnover, tobacco & tourism Adris Group preferred issue (ADRSPA ZA) slipped 0.3% on HRK 1.5 m in turnover and telecom solutions provider Ericsson Nikola Tesla (ERNTRA ZA) increasing by 0.3% on HRK 0.7 m in turnover.

Media speculations that holding company SN Holding will get majority stake in hotel company Liburnia Riviera Hoteli (LRHRA ZA), as a result of law settlement, pushed their prices sharply higher. SNHO share rose 26.5% on HRK 0.8 m turnover, while Liburnia stock jumped 16.7% collecting HRK 0.5 m in turnover.

 

više...]]> Market comment
European stock benchmarks retreated in late afternoon hours, driven with Iceland’s credit rating cut by rating agency Standard & Poors. Commodity prices are mostly higher, while euro depreciated vs. U.S. dollar as a result of aforementioned rating cut. U.S. stock went higher after opening, as better than estimated data on home prices and consumer confidence bolstered optimism the economic recovery is accelerating.

ZSE’s equity indices closed with performance today. CROBEX added 0.1% to 2,137.1 pts and blue chip CROBEX10 closed at 1,152.7 pts, 0.1% down. Regular stock turnover amounted to HRK below average HRK 13.7 m.

Defensive plays attracted investors attention today: telco T-HT (HTRA ZA) added 0.6% collecting HRK 4.5 m in turnover, tobacco & tourism Adris Group preferred issue (ADRSPA ZA) slipped 0.3% on HRK 1.5 m in turnover and telecom solutions provider Ericsson Nikola Tesla (ERNTRA ZA) increasing by 0.3% on HRK 0.7 m in turnover.

Media speculations that holding company SN Holding will get majority stake in hotel company Liburnia Riviera Hoteli (LRHRA ZA), as a result of law settlement, pushed their prices sharply higher. SNHO share rose 26.5% on HRK 0.8 m turnover, while Liburnia stock jumped 16.7% collecting HRK 0.5 m in turnover.

 

više...]]> http://www.fima.hr/default.aspx?id=258382 Tue, 30 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=258382#30.3.2010 Above expected increase Euro zone economic confidence and confirmation of U.K. AAA credit rating by Standard & Poors credit rating positively affected European equities. An index of executive and consumer sentiment in the 16 nations using the euro rose to 97.7 from 95.9 in February, outpacing median of economists projections (97.1). Wall Street indices also rose after opening, stimulated with 5th consecutive increase of consumer spending. Personal spending increased by 0.3% m/m in February, what is in line analyst’s expectations.

ZSE’s equity benchmarks have mixed closing performance, with CROBEX decreasing by 0.3% to 2,135.2 pts and bluechip CROBEX10 minimally soaring to 1,153.5 pts on midsession. Liquidity remains on low levels, as regular stock turnover amounted to below average HRK 12.0 m.

Low liquid ordinary share of distribution transformers producer Končar Distributivni i Specijalni transformatori (KODTRA ZA) increased by 5.3% on HRK 0.9 m in turnover, as proposed dividend in amount of HRK 102.7 per share attracted investors.

Construction consultancy Institut IGH (IGHRA ZA) added 2.8% collecting HRK 0.9 m in turnover, on acquisitions of two project bureaus in Zagreb. Institut IGH took over 50.0% of Geotehnika-Inženjering doo for HRK 22.5 m and became sole owner of the bureau. Furthermore, it acquired majority share in Projektni biro Palmotićeva 45 doo paying HRK 18.0 m for 80.1% stake.

 

više...]]> Above expected increase Euro zone economic confidence and confirmation of U.K. AAA credit rating by Standard & Poors credit rating positively affected European equities. An index of executive and consumer sentiment in the 16 nations using the euro rose to 97.7 from 95.9 in February, outpacing median of economists projections (97.1). Wall Street indices also rose after opening, stimulated with 5th consecutive increase of consumer spending. Personal spending increased by 0.3% m/m in February, what is in line analyst’s expectations.

ZSE’s equity benchmarks have mixed closing performance, with CROBEX decreasing by 0.3% to 2,135.2 pts and bluechip CROBEX10 minimally soaring to 1,153.5 pts on midsession. Liquidity remains on low levels, as regular stock turnover amounted to below average HRK 12.0 m.

Low liquid ordinary share of distribution transformers producer Končar Distributivni i Specijalni transformatori (KODTRA ZA) increased by 5.3% on HRK 0.9 m in turnover, as proposed dividend in amount of HRK 102.7 per share attracted investors.

Construction consultancy Institut IGH (IGHRA ZA) added 2.8% collecting HRK 0.9 m in turnover, on acquisitions of two project bureaus in Zagreb. Institut IGH took over 50.0% of Geotehnika-Inženjering doo for HRK 22.5 m and became sole owner of the bureau. Furthermore, it acquired majority share in Projektni biro Palmotićeva 45 doo paying HRK 18.0 m for 80.1% stake.

 

više...]]> http://www.fima.hr/default.aspx?id=257918 Mon, 29 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=257918#29.3.2010 European stocks slightly declined in Friday, despite news that EU members and IMF agreed to help Greece to tame its high debt burden. Euro rallied from a 10-month low against the dollar, jumping above level of 1.34 per US dollar. USD appreciation also pushed commodity prices up. Wall Street opened in positive, driven with better than expected final reading of Reuters/University of Michigan consumer sentiment index. Index held at 73.6 pts in March, while economists forecasted decline to 73.0 pts.

ZSE's equity benchmarks remained unchanged, with CROBEX and CROBEX10 closing at 2,140.75 pts and 1,153.3 pts respectively. Regular stock turnover amounted to HRK 11.1 m, lowest level from March 11th.
Telco T-HT (HTRA ZA) closed above HRK 320, on announced acquisition of IT system integrator Combis Ltd. T-HT paid between HRK 185.3 m and HRK 228.9 m for 100% stake in Combis Ltd. (depending on Company’s 2010-11 results), or at P/S multiple between 0.6 and 0.7. Combis’s 2009 consolidated revenues amounted to HRK 330 m, or 3.7% of T-HT’s FY 09 revenues. This takeover is in line with Company’s strategy to become important ICT provider on HRK 2.1 bn worth domestic IT services market.

Paper producer Belišće (BLSCRA ZA) declined 4.8% on HRK 0.7 m in turnover, as media speculations that acquirer Duropack AG will offer bid price for Belišće stock slightly above three month average of HRK 458.2 per share (minimal bid price, as per takeover law).

REIT FIMA Proprius (FMPSRA ZA) continued with upward session, minimally increasing on HRK 0.4 m in turnover.

Released preliminary GDP data show that Croatian 2009 GDP declined 5.8% y/y in real terms, what is in line with flash estimate released on the end of February. Q4 GDP plunged 4.5% y/y, a sign that free fall of Croatian economy stopped. Categories personal consumption and gross investments were main culprits of this decline, dropping by 7.5% y/y and 11.3% y/y respectively.

 

više...]]> European stocks slightly declined in Friday, despite news that EU members and IMF agreed to help Greece to tame its high debt burden. Euro rallied from a 10-month low against the dollar, jumping above level of 1.34 per US dollar. USD appreciation also pushed commodity prices up. Wall Street opened in positive, driven with better than expected final reading of Reuters/University of Michigan consumer sentiment index. Index held at 73.6 pts in March, while economists forecasted decline to 73.0 pts.

ZSE's equity benchmarks remained unchanged, with CROBEX and CROBEX10 closing at 2,140.75 pts and 1,153.3 pts respectively. Regular stock turnover amounted to HRK 11.1 m, lowest level from March 11th.
Telco T-HT (HTRA ZA) closed above HRK 320, on announced acquisition of IT system integrator Combis Ltd. T-HT paid between HRK 185.3 m and HRK 228.9 m for 100% stake in Combis Ltd. (depending on Company’s 2010-11 results), or at P/S multiple between 0.6 and 0.7. Combis’s 2009 consolidated revenues amounted to HRK 330 m, or 3.7% of T-HT’s FY 09 revenues. This takeover is in line with Company’s strategy to become important ICT provider on HRK 2.1 bn worth domestic IT services market.

Paper producer Belišće (BLSCRA ZA) declined 4.8% on HRK 0.7 m in turnover, as media speculations that acquirer Duropack AG will offer bid price for Belišće stock slightly above three month average of HRK 458.2 per share (minimal bid price, as per takeover law).

REIT FIMA Proprius (FMPSRA ZA) continued with upward session, minimally increasing on HRK 0.4 m in turnover.

Released preliminary GDP data show that Croatian 2009 GDP declined 5.8% y/y in real terms, what is in line with flash estimate released on the end of February. Q4 GDP plunged 4.5% y/y, a sign that free fall of Croatian economy stopped. Categories personal consumption and gross investments were main culprits of this decline, dropping by 7.5% y/y and 11.3% y/y respectively.

 

više...]]> http://www.fima.hr/default.aspx?id=257457 Fri, 26 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=257457#26.3.2010 Europen markets jumped today, with major indices increasing more than 1.0% on average. Germany's support to Greece rescue proposal (which includes IMF assistance) boosted demand for riskier investments. European supranational currency also appreciated toward U.S. dollar and commodity prices went up. Wall Street indices opened sharply higher, driven with positive session in Europe.

Investors on Zagreb Stock Exchange weren’t so lucky, as CROBEX added 0.1% to 2,140.7 pts while CROBEX10 closed at 1,153.2 pts, 0.2% down. Regular stock turnover totaled to below average HRK 16.1 m, a sign of mild institutional investors presence.

REIT FIMA Proprius (FMPSRA ZA) and tobacco & tourism Adris Group ordinary share (ADRSRA ZA) were top liquid gainers, increasing by 7.3% and 5.9% respectively. It seems that investors have focused on issues which are trading below their Net Asset Value/book value. FIMA Proprius share had HRK 1.7 m in turnover, while ordinary Adris Group stock collected HRK 1.1 m.

Despite crude oil price growth, oil & gas company Ina (INARA ZA) slipped by 0.6% collecting HRK 1.4 m in turnover.

News that domestic institutional investors (mandatory pension funds) haven’t managed to get controlling quote in Supervisory Board of food & pharmaceutical Podravka (PODRRA ZA) didn’t affect Podravka share, which rose 0.9% on minimum turnover.




više...]]> Europen markets jumped today, with major indices increasing more than 1.0% on average. Germany's support to Greece rescue proposal (which includes IMF assistance) boosted demand for riskier investments. European supranational currency also appreciated toward U.S. dollar and commodity prices went up. Wall Street indices opened sharply higher, driven with positive session in Europe.

Investors on Zagreb Stock Exchange weren’t so lucky, as CROBEX added 0.1% to 2,140.7 pts while CROBEX10 closed at 1,153.2 pts, 0.2% down. Regular stock turnover totaled to below average HRK 16.1 m, a sign of mild institutional investors presence.

REIT FIMA Proprius (FMPSRA ZA) and tobacco & tourism Adris Group ordinary share (ADRSRA ZA) were top liquid gainers, increasing by 7.3% and 5.9% respectively. It seems that investors have focused on issues which are trading below their Net Asset Value/book value. FIMA Proprius share had HRK 1.7 m in turnover, while ordinary Adris Group stock collected HRK 1.1 m.

Despite crude oil price growth, oil & gas company Ina (INARA ZA) slipped by 0.6% collecting HRK 1.4 m in turnover.

News that domestic institutional investors (mandatory pension funds) haven’t managed to get controlling quote in Supervisory Board of food & pharmaceutical Podravka (PODRRA ZA) didn’t affect Podravka share, which rose 0.9% on minimum turnover.




više...]]> http://www.fima.hr/default.aspx?id=256894 Thu, 25 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=256894#25.3.2010 Although soaring concern on Greece debt and Moody’s downgrade of Portugal’s sovereign debt negatively reflected on European equities, German DAX and British FTSE managed to close in black. Wall Street indices declined 0.4% on average, on announced below expected new home sales and durable goods data. In February, new home sales declined 2.2% m/m to 308.000 units while economists expected 1.9% m/m growth to 315k units. Durable goods orders increased by 0.5% m/m in same month, trailing analyst estimates who projected 0.6% m/m growth.

ZSE’s equity benchmarks had mixed performance today, with CROBEX decreasing by 0.3% to 2,138.3 pts and blue chip CROBEX10 closing at 1,155.1 pts, 0.1% up. Liquidity reduced significantly, as regular stock turnover amounted to HRK 14.4 m.

Announcement that dry bulk Atlantska Plovidba (ATPLRA ZA) contracted delivery of two 79.8k DWT Panamax vessels didn’t increased demand for ATPL stock, as it slipped 0.3% on minimum turnover. Atlantska’s order book is consisted of six vessels with total capacity of 420k DWT, or almost 52.0% of current freight capacity.

Proposed dividend in amount of HRK 102.7 per share provoked interest for low liquid ordinary share of distribution transformers producer Končar Distributivni i Specijalni transformatori (KODTRA ZA), which rose 2.2% on HRK 0.2 m in turnover.


 

više...]]> Although soaring concern on Greece debt and Moody’s downgrade of Portugal’s sovereign debt negatively reflected on European equities, German DAX and British FTSE managed to close in black. Wall Street indices declined 0.4% on average, on announced below expected new home sales and durable goods data. In February, new home sales declined 2.2% m/m to 308.000 units while economists expected 1.9% m/m growth to 315k units. Durable goods orders increased by 0.5% m/m in same month, trailing analyst estimates who projected 0.6% m/m growth.

ZSE’s equity benchmarks had mixed performance today, with CROBEX decreasing by 0.3% to 2,138.3 pts and blue chip CROBEX10 closing at 1,155.1 pts, 0.1% up. Liquidity reduced significantly, as regular stock turnover amounted to HRK 14.4 m.

Announcement that dry bulk Atlantska Plovidba (ATPLRA ZA) contracted delivery of two 79.8k DWT Panamax vessels didn’t increased demand for ATPL stock, as it slipped 0.3% on minimum turnover. Atlantska’s order book is consisted of six vessels with total capacity of 420k DWT, or almost 52.0% of current freight capacity.

Proposed dividend in amount of HRK 102.7 per share provoked interest for low liquid ordinary share of distribution transformers producer Končar Distributivni i Specijalni transformatori (KODTRA ZA), which rose 2.2% on HRK 0.2 m in turnover.


 

više...]]> http://www.fima.hr/default.aspx?id=256458 Wed, 24 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=256458#24.3.2010 Market comment
Better than expected earnings report from Legal & General Group Plc and Bank of China Ltd. positively reflected on European markets today. Additional impulse came from positive session on Wall Street, as sales of existing U.S. homes slightly outpaced economist expectations. In February, sales of existing homes declined 0.6% m/m to a annual rate of 5.02 million while forecasts median projected drop to 5.0 million annual rate. Euro is oscillating around 1.35 level toward U.S. dollar, as division between EU members on Greece bailout widened.

ZSE’s equity benchmarks closed in black, after mixed performance through most of day. CROBEX rose 0.4% to 2,143.6 pts while CROBEX10 gained 0.6% to 1,153.7 pts. Regular stock turnover totaled to below average HRK 17.2 m.

Defensive sectors attracted investors’ attention on domestic stock market, as telco T-HT (HTRA ZA) rose 0.6% on HRK 5.6 m in turnover while tobacco & tourism Adris Group preferred share (ADRSPA ZA) soared 1.5% collecting HRK 2.2 m in turnover. TDR, tobacco arm of Adris Group (ADRSPA ZA, ADRSRA ZA), signed agreement with Iranian tobacco monopolist Iranian Tobacco Company regarding construction of tobacco factory in Iran. Annual output of this facility is projected at 6.5 bn of cigarettes, what represents almost 50.0% of current TDR’s production. Iranian factory aims to produce most popular TDR’s brand (Ronhill) and export cigarette brand (Respect), while manufacturing is expected to kick-off in late 2011. With annual consumption of more than 70 bn of cigarettes, Iran is biggest tobacco market on Middle East. Besides in Iran, with this EUR 30 m investment Company plans to expand in neighboring markets. Our current target price for Adris preffered share (ADRSPA ZA) is HRK 388.2, and for ordinary stock (ADRSRA ZA) is set at HRK 459.9.

REIT FIMA Proprius (FMPSRA ZA) was top liquid gainer, increasing by 5.8% on HRK 1.2 m in turnover. At closing price of HRK 24.5, this issue is trading at 68.9% discount (compared to reported Net Asset Value of HRK 78.9 per share, as on February 28th).



više...]]> Market comment
Better than expected earnings report from Legal & General Group Plc and Bank of China Ltd. positively reflected on European markets today. Additional impulse came from positive session on Wall Street, as sales of existing U.S. homes slightly outpaced economist expectations. In February, sales of existing homes declined 0.6% m/m to a annual rate of 5.02 million while forecasts median projected drop to 5.0 million annual rate. Euro is oscillating around 1.35 level toward U.S. dollar, as division between EU members on Greece bailout widened.

ZSE’s equity benchmarks closed in black, after mixed performance through most of day. CROBEX rose 0.4% to 2,143.6 pts while CROBEX10 gained 0.6% to 1,153.7 pts. Regular stock turnover totaled to below average HRK 17.2 m.

Defensive sectors attracted investors’ attention on domestic stock market, as telco T-HT (HTRA ZA) rose 0.6% on HRK 5.6 m in turnover while tobacco & tourism Adris Group preferred share (ADRSPA ZA) soared 1.5% collecting HRK 2.2 m in turnover. TDR, tobacco arm of Adris Group (ADRSPA ZA, ADRSRA ZA), signed agreement with Iranian tobacco monopolist Iranian Tobacco Company regarding construction of tobacco factory in Iran. Annual output of this facility is projected at 6.5 bn of cigarettes, what represents almost 50.0% of current TDR’s production. Iranian factory aims to produce most popular TDR’s brand (Ronhill) and export cigarette brand (Respect), while manufacturing is expected to kick-off in late 2011. With annual consumption of more than 70 bn of cigarettes, Iran is biggest tobacco market on Middle East. Besides in Iran, with this EUR 30 m investment Company plans to expand in neighboring markets. Our current target price for Adris preffered share (ADRSPA ZA) is HRK 388.2, and for ordinary stock (ADRSRA ZA) is set at HRK 459.9.

REIT FIMA Proprius (FMPSRA ZA) was top liquid gainer, increasing by 5.8% on HRK 1.2 m in turnover. At closing price of HRK 24.5, this issue is trading at 68.9% discount (compared to reported Net Asset Value of HRK 78.9 per share, as on February 28th).



više...]]> http://www.fima.hr/default.aspx?id=255990 Tue, 23 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=255990#23.3.2010 Market comment
Profit taking on European markets, masked with renewed Greece sovereign debt-burden concern and U.S. euro depreciation, pushed equity prices down. After sharp decline in morning hours, they recovered in late afternoon hours driven with gains on Wall Street. U.S. retreated after opening decline as drug makers rallied after the House of Representatives passed on health-care legislation. This law will extend insurance coverage for 32 million of U.S. citizens and it will cost USD 940 billion over 10 years.

Zagreb Stock Exchange didn’t escape from global sell-off, as CROBEX and CROBEX10 declined 0.8% and 0.6% respectively. Regular stock turnover amounted to HRK 22.9 m. Additional impact on domestic equity benchmarks came from announced unemployment rate data, which soared to 18.3% in February.

 

više...]]> Market comment
Profit taking on European markets, masked with renewed Greece sovereign debt-burden concern and U.S. euro depreciation, pushed equity prices down. After sharp decline in morning hours, they recovered in late afternoon hours driven with gains on Wall Street. U.S. retreated after opening decline as drug makers rallied after the House of Representatives passed on health-care legislation. This law will extend insurance coverage for 32 million of U.S. citizens and it will cost USD 940 billion over 10 years.

Zagreb Stock Exchange didn’t escape from global sell-off, as CROBEX and CROBEX10 declined 0.8% and 0.6% respectively. Regular stock turnover amounted to HRK 22.9 m. Additional impact on domestic equity benchmarks came from announced unemployment rate data, which soared to 18.3% in February.

 

više...]]> http://www.fima.hr/default.aspx?id=255488 Mon, 22 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=255488#22.3.2010 European equities showed increased volatility today, driven with negative impact from Greece debt crisis and positive influence from lower than estimated U.S. inflation rate. In February, Consumer Price Index remain unchanged on monthly level while economists projected increase of 0.2% m/m. Annual CPI rose 2.1% y/y, below median of projections surveyed by Bloomberg (2.3% y/y). U.S. stock indices retreated after opening rise, on expectations that Federal Reserve will lift discount rate it charges on direct loans to banks for a 2nd time. Additional ballast came from released data on U.S. leading indicators index for February. The index of U.S. leading indicators rose 0.1% m/m in observed month, the smallest gain in almost a year, pointing to an economy that may expand at a slower pace in the second half of 2010.

Domestic equity benchmarks both declined today. CROBEX slipped 0.2% to 2,162.5 pts, while blue chip CROBEX10 closed at 1,161.5 pts, 0.3% down. Regular stock turnover amounted to HRK 22.8 m, indicating liquidity improvement. Despite today’s decline Relative Strength Index’s total to 54.5 and 59.1 pts respectively, ZSE’s stock indices are slightly nearer to overbought territory.

Profit taking on telecom operator T-HT (HTRA ZA) pushed this issue down by 0.9% on HRK 9.0 m in turnover.

Power trunk producer and montage company Dalekovod (DLKVRA ZA) continued with upward session, adding 0.7% and collecting HRK 2.5 m in turnover.



više...]]> European equities showed increased volatility today, driven with negative impact from Greece debt crisis and positive influence from lower than estimated U.S. inflation rate. In February, Consumer Price Index remain unchanged on monthly level while economists projected increase of 0.2% m/m. Annual CPI rose 2.1% y/y, below median of projections surveyed by Bloomberg (2.3% y/y). U.S. stock indices retreated after opening rise, on expectations that Federal Reserve will lift discount rate it charges on direct loans to banks for a 2nd time. Additional ballast came from released data on U.S. leading indicators index for February. The index of U.S. leading indicators rose 0.1% m/m in observed month, the smallest gain in almost a year, pointing to an economy that may expand at a slower pace in the second half of 2010.

Domestic equity benchmarks both declined today. CROBEX slipped 0.2% to 2,162.5 pts, while blue chip CROBEX10 closed at 1,161.5 pts, 0.3% down. Regular stock turnover amounted to HRK 22.8 m, indicating liquidity improvement. Despite today’s decline Relative Strength Index’s total to 54.5 and 59.1 pts respectively, ZSE’s stock indices are slightly nearer to overbought territory.

Profit taking on telecom operator T-HT (HTRA ZA) pushed this issue down by 0.9% on HRK 9.0 m in turnover.

Power trunk producer and montage company Dalekovod (DLKVRA ZA) continued with upward session, adding 0.7% and collecting HRK 2.5 m in turnover.



više...]]> http://www.fima.hr/default.aspx?id=254538 Thu, 18 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=254538#18.3.2010 Yesterday’s bullish session on Wall Street and 17-month high for S&P 500 index, positively affected European markets which rose more than 0.5% on average. Additional impulse came from euro appreciation and better than estimated Q4 earnings from bank Unicredit SpA and fashion & retail company Inditex SA. U.S. stock indices continued with upward session, led by financial and energy sectors.

Domestic equity benchmarks also rose today. CROBEX closed at 2,166.5 pts, 0.2% up, while blue chip CROBEX10 soared to 1,164.9 pts (+0.3%). Liquidity didn’t follow this pattern, as regular stock turnover amounted to HRK 11.4 m what is 3rd lowest turnover in 2010.

Collecting HRK 3.3 m and HRK 1.7 m in turnover respectively, telco T-HT (HTRA ZA) and power trunk producer and montage company Dalekovod (DLKVRA ZA) were only millionaires today. HT share rose 0.6% to closing HRK 324.0, while Dalekovod stock gained 2.4%.

Media statement from electrical equipment producer Končar Elektroindustrija (KOEIRA ZA) CEO that Končar EI will invest HRK 200 m in wind farm based in outskirts of Split boosted demand for Dalekovod share, since Dalekovod is positioning itself as equipment producer for renewables. Despite this announced investment, KOEI share declined 1.3% on HRK 0.3 m turnover.



više...]]> Yesterday’s bullish session on Wall Street and 17-month high for S&P 500 index, positively affected European markets which rose more than 0.5% on average. Additional impulse came from euro appreciation and better than estimated Q4 earnings from bank Unicredit SpA and fashion & retail company Inditex SA. U.S. stock indices continued with upward session, led by financial and energy sectors.

Domestic equity benchmarks also rose today. CROBEX closed at 2,166.5 pts, 0.2% up, while blue chip CROBEX10 soared to 1,164.9 pts (+0.3%). Liquidity didn’t follow this pattern, as regular stock turnover amounted to HRK 11.4 m what is 3rd lowest turnover in 2010.

Collecting HRK 3.3 m and HRK 1.7 m in turnover respectively, telco T-HT (HTRA ZA) and power trunk producer and montage company Dalekovod (DLKVRA ZA) were only millionaires today. HT share rose 0.6% to closing HRK 324.0, while Dalekovod stock gained 2.4%.

Media statement from electrical equipment producer Končar Elektroindustrija (KOEIRA ZA) CEO that Končar EI will invest HRK 200 m in wind farm based in outskirts of Split boosted demand for Dalekovod share, since Dalekovod is positioning itself as equipment producer for renewables. Despite this announced investment, KOEI share declined 1.3% on HRK 0.3 m turnover.



više...]]> http://www.fima.hr/default.aspx?id=254066 Wed, 17 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=254066#17.3.2010 Expectations that EU members will provide financial aid to Greece (to avoid possible default) and initiative inside U.S. Senate to ease proposed regulatory overhaul on financial system positively reflected on European markets. Wall Street indices also went up after opening, as investors expect that Federal Reserve will leave key interest rate intact.

Profit taking pushed ZSE’s equity benchmarks down today. CROBEX decreased 0.4% to 2,162.1 pts while blue chip CROBEX10 slipped 0.3% to 1,161.1 pts. Liquidity reduced significantly, as regular stock turnover amounted to HRK 12.7 m.

Telco T-HT (HTRA ZA) is only millionaire, collecting HRK 2.2 m in turnover while its price rose 0.2%. On closing price of HRK 321.8, HT share offers dividend yield 10.6%.

Defensive companies recorded above average performance, as food & pharmaceutical Podravka (PODRRA ZA) added 0.9%, while tobacco & tourism Adris Group (ADRSPA ZA) preferred share remain unchanged at HRK 285.5.

 

više...]]> Expectations that EU members will provide financial aid to Greece (to avoid possible default) and initiative inside U.S. Senate to ease proposed regulatory overhaul on financial system positively reflected on European markets. Wall Street indices also went up after opening, as investors expect that Federal Reserve will leave key interest rate intact.

Profit taking pushed ZSE’s equity benchmarks down today. CROBEX decreased 0.4% to 2,162.1 pts while blue chip CROBEX10 slipped 0.3% to 1,161.1 pts. Liquidity reduced significantly, as regular stock turnover amounted to HRK 12.7 m.

Telco T-HT (HTRA ZA) is only millionaire, collecting HRK 2.2 m in turnover while its price rose 0.2%. On closing price of HRK 321.8, HT share offers dividend yield 10.6%.

Defensive companies recorded above average performance, as food & pharmaceutical Podravka (PODRRA ZA) added 0.9%, while tobacco & tourism Adris Group (ADRSPA ZA) preferred share remain unchanged at HRK 285.5.

 

više...]]> http://www.fima.hr/default.aspx?id=253657 Tue, 16 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=253657#16.3.2010 European equities opened the week with slight decline, as China’s plans to restrict bank lending i.e. curb inflation negatively reflected commodity prices and stocks. Wall Street indices declined after opening, as negative impact from China and India to cool economic growth excelled U.S. industrial output data. Industrial production in United States rose 0.1% m/m in February, outpacing median economists projections who expected that it will remain flat.

ZSE’s equity benchmarks delivered mixed performance, as announced retail sales data weighted on domestic equities. CROBEX declined minimally to 2,171.2 pts, while blue chip CROBEX10 added 0.2% to 1,164.6 pts. Regular stock turnover totaled to HRK 26.3 m.

Construction companies attracted investors’ attention. Construction consultancy Institut IGH (IGHRA ZA) gained 5.3% on HRK 2.2 m in turnover, Dalekovod (DLKVRA ZA) rose 0.9% collecting HRK 2.0 m in turnover, while engineering company Ingra (INGRRA ZA) slipped 1.3% on HRK 0.5 m in turnover.



više...]]> European equities opened the week with slight decline, as China’s plans to restrict bank lending i.e. curb inflation negatively reflected commodity prices and stocks. Wall Street indices declined after opening, as negative impact from China and India to cool economic growth excelled U.S. industrial output data. Industrial production in United States rose 0.1% m/m in February, outpacing median economists projections who expected that it will remain flat.

ZSE’s equity benchmarks delivered mixed performance, as announced retail sales data weighted on domestic equities. CROBEX declined minimally to 2,171.2 pts, while blue chip CROBEX10 added 0.2% to 1,164.6 pts. Regular stock turnover totaled to HRK 26.3 m.

Construction companies attracted investors’ attention. Construction consultancy Institut IGH (IGHRA ZA) gained 5.3% on HRK 2.2 m in turnover, Dalekovod (DLKVRA ZA) rose 0.9% collecting HRK 2.0 m in turnover, while engineering company Ingra (INGRRA ZA) slipped 1.3% on HRK 0.5 m in turnover.



više...]]> http://www.fima.hr/default.aspx?id=253193 Mon, 15 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=253193#15.3.2010 Driven with yesterday’s positive session on U.S. markets, euro appreciation as well as upward session on emerging markets positively reflected on European markets. Wall Street indices retreated after positive opening, as unexpected drop in consumer confidence overshadowed retail sales data. The consumer sentiment index fell a second consecutive month to 72.5 pts in March from February’s final reading of 73.6 pts, below economist’s estimates who expected increase to 74.0 pts in observed month. Positive stimulus came from retail sales, which rose by 0.3% m/m in February (fourth increase in last five months). Median of economist’s projections was 0.2% m/m decrease. Sales excluding automobiles rose 0.8 percent, exceeding all estimates.

Bullish impulse from world markets and announced abolition of crisis tax on salaries between HRK 3,000 and HRK 6,000, positively reflected on ZSE equity benchmarks. CROBEX rose 1.4% to 2,171.3 pts while CROBEX10 closed at 1,161.9 pts, 1.2% up. Liquidity slightly improved in late afternoon hours, as regular stock turnover almost doubled to HRK 17.8 m.

Adris Group preferred issue (ADRSPA ZA) rose 2.5% on HRK 1.5 m in turnover, driven with increased demand for ordinary share of Adris Group (ADRSRA ZA) which gained 9.7% collecting HRK 0.6 m in turnover.

Oil & gas company Ina (INARA ZA) closed at HRK 1.800, without change in closing price. On extraordinary GA, Ina’s shareholders will add into Company’s statue option to increase stock capital through conversion of convertible bonds into shares.





više...]]> Driven with yesterday’s positive session on U.S. markets, euro appreciation as well as upward session on emerging markets positively reflected on European markets. Wall Street indices retreated after positive opening, as unexpected drop in consumer confidence overshadowed retail sales data. The consumer sentiment index fell a second consecutive month to 72.5 pts in March from February’s final reading of 73.6 pts, below economist’s estimates who expected increase to 74.0 pts in observed month. Positive stimulus came from retail sales, which rose by 0.3% m/m in February (fourth increase in last five months). Median of economist’s projections was 0.2% m/m decrease. Sales excluding automobiles rose 0.8 percent, exceeding all estimates.

Bullish impulse from world markets and announced abolition of crisis tax on salaries between HRK 3,000 and HRK 6,000, positively reflected on ZSE equity benchmarks. CROBEX rose 1.4% to 2,171.3 pts while CROBEX10 closed at 1,161.9 pts, 1.2% up. Liquidity slightly improved in late afternoon hours, as regular stock turnover almost doubled to HRK 17.8 m.

Adris Group preferred issue (ADRSPA ZA) rose 2.5% on HRK 1.5 m in turnover, driven with increased demand for ordinary share of Adris Group (ADRSRA ZA) which gained 9.7% collecting HRK 0.6 m in turnover.

Oil & gas company Ina (INARA ZA) closed at HRK 1.800, without change in closing price. On extraordinary GA, Ina’s shareholders will add into Company’s statue option to increase stock capital through conversion of convertible bonds into shares.





više...]]> http://www.fima.hr/default.aspx?id=253192 Fri, 12 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=253192#12.3.2010 Acceleration of inflation rate in China and profit taking steps pushed European equities slightly down on midsession, while euro slightly depreciated toward U.S. dollar. In February, consumer prices rose 2.7% y/y and they reached 16-month high. Wall Street indices slightly retreated today, as drop in trade import outpaced improved jobs data. The U.S. trade deficit unexpectedly dropped in January to USD 37.3 bn or 6.6% compared to revised December data (USD 39.9 m), driven with decline in automobiles and crude oil import. Economists projected that trade gap will increase to USD 41.0 bn. Initial jobless claims declined by 6 thousand to 462.000 in the week ended March 6th.

Domestic equity benchmarks closed with mixed performance. CROBEX slipped 0.1% to 2,141.6 pts while blue chip CROBEX10 gained 0.2% to 1,148.6 pts today. Liquidity decreased significantly, as regular stock turnover amounted to HRK 9.8 m, lowest level from December, 24th.

Construction sector continued to recover, as construction consultancy Institut IGH (IGHRA ZA) added 2.0% and Ingra (INGRRA ZA) rose 2.2%.



više...]]> Acceleration of inflation rate in China and profit taking steps pushed European equities slightly down on midsession, while euro slightly depreciated toward U.S. dollar. In February, consumer prices rose 2.7% y/y and they reached 16-month high. Wall Street indices slightly retreated today, as drop in trade import outpaced improved jobs data. The U.S. trade deficit unexpectedly dropped in January to USD 37.3 bn or 6.6% compared to revised December data (USD 39.9 m), driven with decline in automobiles and crude oil import. Economists projected that trade gap will increase to USD 41.0 bn. Initial jobless claims declined by 6 thousand to 462.000 in the week ended March 6th.

Domestic equity benchmarks closed with mixed performance. CROBEX slipped 0.1% to 2,141.6 pts while blue chip CROBEX10 gained 0.2% to 1,148.6 pts today. Liquidity decreased significantly, as regular stock turnover amounted to HRK 9.8 m, lowest level from December, 24th.

Construction sector continued to recover, as construction consultancy Institut IGH (IGHRA ZA) added 2.0% and Ingra (INGRRA ZA) rose 2.2%.



više...]]> http://www.fima.hr/default.aspx?id=252066 Thu, 11 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=252066#11.3.2010 Decrease of concerns over Greek’s, rise of Chinese export and euro appreciation positively reflected on European equity markets today. U.S. stock indices also opened in positive, driven with lower demand for safe heaven assets (U.S. dollar, Treasuries).

Zagreb Stock Exchange followed this pattern. CROBEX rose 0.8% to 2,142.6 pts while blue chip CROBEX10 closed at 1,146.9 pts, 0.7% up. Regular stock turnover slightly declined to HRK 23.4 m.

Profit taking on telecom operator T-HT (HTRA ZA) pushed this issue down by 0.6%, on HRK 9.9 m in turnover. Despite today’s decline, T-HT stock remains in overbought territory as its RSI totaled to 79.01 pts. Main cause of high RSI indicator is proposed dividend of HRK 34.05 per share, and dividend yield above 10.0% for T-HT share.

 

više...]]> Decrease of concerns over Greek’s, rise of Chinese export and euro appreciation positively reflected on European equity markets today. U.S. stock indices also opened in positive, driven with lower demand for safe heaven assets (U.S. dollar, Treasuries).

Zagreb Stock Exchange followed this pattern. CROBEX rose 0.8% to 2,142.6 pts while blue chip CROBEX10 closed at 1,146.9 pts, 0.7% up. Regular stock turnover slightly declined to HRK 23.4 m.

Profit taking on telecom operator T-HT (HTRA ZA) pushed this issue down by 0.6%, on HRK 9.9 m in turnover. Despite today’s decline, T-HT stock remains in overbought territory as its RSI totaled to 79.01 pts. Main cause of high RSI indicator is proposed dividend of HRK 34.05 per share, and dividend yield above 10.0% for T-HT share.

 

više...]]> http://www.fima.hr/default.aspx?id=251730 Wed, 10 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=251730#10.3.2010 Friday’s bullish session on Wall Street driven with better than expected unemployment data prompted positive reaction of Asian and European equities in Monday. Further stimulus came from Greece plans to tackle deficit. U.S. stock indices opened in positive tune, driven with insurer company AIG effort to continue with market restructuring.

Zagreb Stock Exchange was also bullish mood today, with CROBEX and CROBEX10 increasing by 0.1% and 0.4% respectively. Regular stock turnover of HRK 29.3 m is showing improvement on liquidity issue.

Telco HT (HTRA ZA) topped the liquidity board, with HRK 11.7 m in turnover and price increase of 1.5%. HT share closed at HRK 315.28, highest level from April 16th, 2008. As we mentioned before, Company proposed dividend in amount of HRK 34.05, giving dividend yield of 10.8%. Ex-dividend date is April, 19th and record date for dividend is April, 21st (date when General Assembly also will be held). Dividend will be paid out on May, 17th.



više...]]> Friday’s bullish session on Wall Street driven with better than expected unemployment data prompted positive reaction of Asian and European equities in Monday. Further stimulus came from Greece plans to tackle deficit. U.S. stock indices opened in positive tune, driven with insurer company AIG effort to continue with market restructuring.

Zagreb Stock Exchange was also bullish mood today, with CROBEX and CROBEX10 increasing by 0.1% and 0.4% respectively. Regular stock turnover of HRK 29.3 m is showing improvement on liquidity issue.

Telco HT (HTRA ZA) topped the liquidity board, with HRK 11.7 m in turnover and price increase of 1.5%. HT share closed at HRK 315.28, highest level from April 16th, 2008. As we mentioned before, Company proposed dividend in amount of HRK 34.05, giving dividend yield of 10.8%. Ex-dividend date is April, 19th and record date for dividend is April, 21st (date when General Assembly also will be held). Dividend will be paid out on May, 17th.



više...]]> http://www.fima.hr/default.aspx?id=250744 Tue, 09 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=250744#9.3.2010 European stock markets are having volatile session, as markets are awaiting outcome of Greece 10-year bond sale. Wall Street indices also fluctuate today, on reported mixed economic data. Sale of previously owned homes unexpectedly declined 7.6% m/m in January, as snowy weather and expiration of buyer’s credits in November took its toll. Median of economist’s projections was 1.0 m/m increase. Factory orders rose in line with projections, soaring 1.7% m/m in January.

ZSE’s equity benchmarks managed to close in black, after spending most of the day slightly in red. CROBEX and CROBEX10 both gained 0.2%. Liquidity improved in afternoon hours, and regular stock turnover totaled to HRK 21.2 m.

Power trunk producer and montage company Dalekovod (DLKVRA ZA) added 0.4% on HRK 1.9 m in turnover, driven with EUR 80.4 m (HRK 584.0 m) worth contract for construction of shopping center Supernova. Dalekovod will concede construction works to subcontractors, while it will be charged for electricity works. Total value of contract represents more than one quarter of Company’s 2009 non-consolidated sales of HRK 2.24 bn.



više...]]> European stock markets are having volatile session, as markets are awaiting outcome of Greece 10-year bond sale. Wall Street indices also fluctuate today, on reported mixed economic data. Sale of previously owned homes unexpectedly declined 7.6% m/m in January, as snowy weather and expiration of buyer’s credits in November took its toll. Median of economist’s projections was 1.0 m/m increase. Factory orders rose in line with projections, soaring 1.7% m/m in January.

ZSE’s equity benchmarks managed to close in black, after spending most of the day slightly in red. CROBEX and CROBEX10 both gained 0.2%. Liquidity improved in afternoon hours, and regular stock turnover totaled to HRK 21.2 m.

Power trunk producer and montage company Dalekovod (DLKVRA ZA) added 0.4% on HRK 1.9 m in turnover, driven with EUR 80.4 m (HRK 584.0 m) worth contract for construction of shopping center Supernova. Dalekovod will concede construction works to subcontractors, while it will be charged for electricity works. Total value of contract represents more than one quarter of Company’s 2009 non-consolidated sales of HRK 2.24 bn.



više...]]> http://www.fima.hr/default.aspx?id=250356 Mon, 08 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=250356#8.3.2010 Market comment
European stock markets are having volatile session, as markets are awaiting outcome of Greece 10-year bond sale. Wall Street indices also fluctuate today, on reported mixed economic data. Sale of previously owned homes unexpectedly declined 7.6% m/m in January, as snowy weather and expiration of buyer’s credits in November took its toll. Median of economist’s projections was 1.0 m/m increase. Factory orders rose in line with projections, soaring 1.7% m/m in January.

ZSE’s equity benchmarks managed to close in black, after spending most of the day slightly in red. CROBEX and CROBEX10 both gained 0.2%. Liquidity improved in afternoon hours, and regular stock turnover totaled to HRK 21.2 m.

Power trunk producer and montage company Dalekovod (DLKVRA ZA) added 0.4% on HRK 1.9 m in turnover, driven with EUR 80.4 m (HRK 584.0 m) worth contract for construction of shopping center Supernova. Dalekovod will concede construction works to subcontractors, while it will be charged for electricity works. Total value of contract represents more than one quarter of Company’s 2009 non-consolidated sales of HRK 2.24 bn.

 

više...]]> Market comment
European stock markets are having volatile session, as markets are awaiting outcome of Greece 10-year bond sale. Wall Street indices also fluctuate today, on reported mixed economic data. Sale of previously owned homes unexpectedly declined 7.6% m/m in January, as snowy weather and expiration of buyer’s credits in November took its toll. Median of economist’s projections was 1.0 m/m increase. Factory orders rose in line with projections, soaring 1.7% m/m in January.

ZSE’s equity benchmarks managed to close in black, after spending most of the day slightly in red. CROBEX and CROBEX10 both gained 0.2%. Liquidity improved in afternoon hours, and regular stock turnover totaled to HRK 21.2 m.

Power trunk producer and montage company Dalekovod (DLKVRA ZA) added 0.4% on HRK 1.9 m in turnover, driven with EUR 80.4 m (HRK 584.0 m) worth contract for construction of shopping center Supernova. Dalekovod will concede construction works to subcontractors, while it will be charged for electricity works. Total value of contract represents more than one quarter of Company’s 2009 non-consolidated sales of HRK 2.24 bn.

 

više...]]> http://www.fima.hr/default.aspx?id=249767 Thu, 04 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=249767#4.3.2010 Favorable economic reports from India and speculation that EU will bail out Greece positively affected on European stocks, which rose more than 0.5% on average. Wall Street indices are also higher today, driven with same factors.

Zagreb Stock Exchange continued with upward session, with CROBEX increasing 0.2% and CROBEX10 soaring by 0.5%. Regular stock turnover totaled to HRK 15.7 m.

Construction consultancy Institut IGH (IGHRA ZA) topped the liquidity board, collecting HRK 1.6 m in turnover. Institut IGH share gained 5.0% today, as investors expect positive outcome from today’s session Montenegro Government’s council on project highway Bar – Boljare. Additional growth driver was news stating that Institut IGH showed interest to participate in construction of transport network in Republic of Kosovo.

 

više...]]> Favorable economic reports from India and speculation that EU will bail out Greece positively affected on European stocks, which rose more than 0.5% on average. Wall Street indices are also higher today, driven with same factors.

Zagreb Stock Exchange continued with upward session, with CROBEX increasing 0.2% and CROBEX10 soaring by 0.5%. Regular stock turnover totaled to HRK 15.7 m.

Construction consultancy Institut IGH (IGHRA ZA) topped the liquidity board, collecting HRK 1.6 m in turnover. Institut IGH share gained 5.0% today, as investors expect positive outcome from today’s session Montenegro Government’s council on project highway Bar – Boljare. Additional growth driver was news stating that Institut IGH showed interest to participate in construction of transport network in Republic of Kosovo.

 

više...]]> http://www.fima.hr/default.aspx?id=248949 Tue, 02 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=248949#2.3.2010 Increased M&A activity and possible EU rescue of Greece positively reflected on European markets, as major stock indices rose more than 1.0% on average. Wall Street also opened in positive territory, driven with better than expected consumer spending which outpaced lower than projected data manufacturing output in U.S. In January, consumer spending increased 0.5% outpacing median of economist estimates (0.4% m/m increase). Manufacturing expanded in February for a seventh consecutive month, as Institute for Supply Management’s index fell to 56.5 from January’s 58.4. Readings greater than 50 signal expansion. Economists’ projected slight decline to 57.9.

Stimulated with world peers performance, Zagreb Stock Exchange experienced modest bullish session today. CROBEX and blue chip CROBEX10 both increased by 0.3% to 2,144.9 pts and 1,141.0 pts respectively. Liquidity didn’t follow this pattern, as regular stock turnover amounted to below average HRK 13.6 m.

 

više...]]> Increased M&A activity and possible EU rescue of Greece positively reflected on European markets, as major stock indices rose more than 1.0% on average. Wall Street also opened in positive territory, driven with better than expected consumer spending which outpaced lower than projected data manufacturing output in U.S. In January, consumer spending increased 0.5% outpacing median of economist estimates (0.4% m/m increase). Manufacturing expanded in February for a seventh consecutive month, as Institute for Supply Management’s index fell to 56.5 from January’s 58.4. Readings greater than 50 signal expansion. Economists’ projected slight decline to 57.9.

Stimulated with world peers performance, Zagreb Stock Exchange experienced modest bullish session today. CROBEX and blue chip CROBEX10 both increased by 0.3% to 2,144.9 pts and 1,141.0 pts respectively. Liquidity didn’t follow this pattern, as regular stock turnover amounted to below average HRK 13.6 m.

 

više...]]> http://www.fima.hr/default.aspx?id=248948 Mon, 01 Mar 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=248948#1.3.2010 Encouraging released macroeconomic data from Asian countries and rise of commodity prices initiated recovery on European equities, which redeemed part of yesterday’s losses. U.S. stock indices also opened in positive territory, as revised Q4 GDP announcement outpaced disappointing sale of previously owned homes data. The U.S. economy expanded at a 5.9% y/y in fourth quarter, outpacing median of economists’ estimates of 5.7% y/y. In 2009, U.S. economy contracted by 2.4% y/y what is the worst single-year performance back from 1946. High unemployment rate caused second consecutive decline of sales of previously owned homes, which dropped 7.2% m/m to 5.05 million while economists expected increase to 5.5 million.

Zagreb Stock Exchange didn’t follow this pattern, in spite of slowed GDP decline in last quarter. CROBEX and CROBEX10 slipped 0.2% and 0.4% respectively, while regular stock turnover amounted to HRK 13.3 m.

Croatian Q4 Gross Domestic Product declined 4.4% y/y, what is significantly less that Q3 2009 drop (5.7% y/y). In 2009 GDP decreased 5.8% y/y in real terms, flash estimate from Croatian Bureau of Statistics show.



više...]]> Encouraging released macroeconomic data from Asian countries and rise of commodity prices initiated recovery on European equities, which redeemed part of yesterday’s losses. U.S. stock indices also opened in positive territory, as revised Q4 GDP announcement outpaced disappointing sale of previously owned homes data. The U.S. economy expanded at a 5.9% y/y in fourth quarter, outpacing median of economists’ estimates of 5.7% y/y. In 2009, U.S. economy contracted by 2.4% y/y what is the worst single-year performance back from 1946. High unemployment rate caused second consecutive decline of sales of previously owned homes, which dropped 7.2% m/m to 5.05 million while economists expected increase to 5.5 million.

Zagreb Stock Exchange didn’t follow this pattern, in spite of slowed GDP decline in last quarter. CROBEX and CROBEX10 slipped 0.2% and 0.4% respectively, while regular stock turnover amounted to HRK 13.3 m.

Croatian Q4 Gross Domestic Product declined 4.4% y/y, what is significantly less that Q3 2009 drop (5.7% y/y). In 2009 GDP decreased 5.8% y/y in real terms, flash estimate from Croatian Bureau of Statistics show.



više...]]> http://www.fima.hr/default.aspx?id=248947 Fri, 26 Feb 2010 00:00:00 GMT http://www.fima.hr/default.aspx?id=248947#26.2.2010