Yesterday, CROBEX noted a solid increase of 1.24%, closing at 1,959.58 points.
CROBEX noted a very solid increase yesterday of 1.24%, marking a continuation of an almost uninterrupted positive sentiment on the Zagreb Stock Exchange in 2021. We note that since the beginning of the year, the index is up by as much as 12.7% and is converging towards the 2,000-point mark. To be specific, the index needs a 2% increase to reach the mentioned mark.
CROBEX was last time seen above the 2,000 point mark back in February of 2020, after which a sharp decrease followed (outbreak of the pandemic). The index plummeted to as low as 1,364.98 back in March, after which a recovery followed. Since the March 2020 bottom, the index increased by as much as 43.6%, while compared to compared to the beginning of the 2020, the index is down by 2.9%. This does not surprise much given the high exposure of the index to the tourism sector.
When observing the index constituents since the beginning of the year, 13 constituents are in green, 2 are flat, while 3 are in red. Of the top gainer, Atlantska Plovidba by far leads the list with a YTD increase by as much as 160%. As a reminder, the company showed a very solid Q1, during which the average daily freight rate increased by c. 72% to USD 12,908 per day. Meanwhile, 9 constituents noted a double-digit YTD increase.
YTD Performance of CROBEX Constituents