Trading statistics for October show an average daily turnover of EUR 0.93m (-77% YoY). Meanwhile, the major index CROBEX ended October in red (-2.11%) at 1,574.68 points.
Trading report for October shows a relatively inactive trading month behind us as total equity turnover amounted to EUR 20.4m (or HRK 154.5m). This translates into an average daily turnover of EUR 0.93m, representing a sharp decrease of 53.1%. It is important to note that such a sharp decrease could somewhat be attributed to a high turnover of Kraš in October of 2019, which you can recap on here. If we were to exclude the effect of Kraš, the average daily turnover is still down as much as 45%, which reveals a continuation of relatively low liquidity on the ZSE, which we have been witnessing throughout most of Q2 and Q3.
Of the total value traded in the period in October block transactions of 2 companies account for 37.6%. Precisely, Adris (reg.) was traded as block (HRK 35.26m) and HT (HRK 22.78m).
If we were to exclude block transactions, HT generated HRK 16.1m or 16.7%, while Valamar Riviera generated HRK 8.9m. Podravka comes third, accounting for 8.5% (or HRK 8.2m). Next come Ericsson NT and Atlantska Plovidba with HRK 7.3m and HRK 5.9m respectively. Končar follows with HRK 5.7m. These five shares generated more than half of the turnover recorded by the entire (equity) market (excluding block transactions).
Share Price Performance of Croatian Blue Chips in October (%)
As visible in the graph, of the observed Croatian blue chips, Ericsson Nikola Tesla observed the highest share price increase of 6%, followed by Atlantic Grupa(+2.5%). On the flip side, Atlantska Plovidba recorded the highest decrease (of the observed companies) of 26.7%.
As a result of the above-mentioned share price performance of Croatian blue chips, CROBEX ended October in red (-2.11%) at 1,574.68 points. Of the sector indices, CROBEXkonstrukt noted the highest decrease of 8.28%. We note that all sector indices ended the month in red, with the exception of CROBEXindustrija (+0.74%). Such a performance on the Croatian equity market is in line with most major European indices as the negative sentiment regarding the Covid-19 pandemic continued in October. Besides that, many European countries have imposed further restrictions in the effort to prevent the spread of the virus, which was reflected in the equity markets.
It is also worth adding that in late October, Croatian companies published Q3 2020 reports which we already covered through Company Notes, while the rest were covered in our Market Espresso. To recap on our comments on 9M 2020 results (covered through Market Espresso) click here.
Besides that, in October, HT joined the prime market and became a constituent of CROBEXprime, which you can read about here.
