Croatian Stocks End Trading Day in Green Amid New Positive Vaccine Development

Valamar Riviera by far led the top gainers with a daily increase of 8.9%, ending the day at HRK 28.1 per share.

Moderna announced that, in a preliminary analysis of a large late-stage clinical trial, its Covid-19 vaccine was 94.5% effective. To be specific, the company stated that preliminary analysis of data from more than 30,000 volunteers showed that Moderna’s vaccine prevented virtually all symptomatic cases of Covid-19. Such news, alongside Pfizer’s announcement last week, could be considered the furthest scientific progress so far in the efforts against the spread of the virus.

As a reminder, Pfizer announced last week that the Covid-19 vaccine being developed prevented more than 90% of infections in a study of tens of thousands of volunteers.

Once the vaccine is given “green light”, the world will face a new challenge – its distribution. The fact the Pfizer’s vaccine must be stored at ultra-cold temperatures until only a few days before its applications imposes logistical barriers which could slowdown the speed at which the vaccine reaches masses.

In contrast, Moderna announced yesterday that new stability data showed its vaccine is stable at refrigerator temperatures for 30 days, which is much longer than a previously estimated 7 days. In other words, such data indicate that vaccine distribution could potentially be easier than previously thought.

The Croatian equity market reacted, unsurprisingly, positively to the news, as virtually all stocks ended the day in green. As a result, ZSE observed a high turnover of HRK 27.6m, while CROBEX increased by 1.96%, ending at 1,673.57 points.  

Valamar Riviera by far leads the top gainers with a daily increase of 8.9%, ending the day at HRK 28.1 per share. Such an increase notes the 3rd highest daily increase this year, and the highest increase since 18 May (when the share price increased by 9.87%). Since the beginning of November, the company’s share price has increased by as much as 22.2%.

Next from the prime market comes AD Plastik, which observed an increase of 4.27%, to HRK 146.5 per share. At the current share price, the company is traded at EV/EBITDA of 5.7. Arena Hospitality Group follows with an increase of 2.8%, to HRK 294 per share, which represents the comapany’s high since the plunge in March. At the current share price, Arena Hospitaltiy Group is still down by 20.5% YTD.

Category : Flash News

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