Trading statistics for November show an average daily turnover of EUR 1.58m (-5.7% YoY). Meanwhile, CROBEX ended November with a sharp increase of 8.1%.
November marked what can arguably be considered the most significant event on the ZSE this year, which was the first listing of ETF’s in Croatia. To be specific, on 17 November, InterCapital Asset Management listed two ETF’s – InterCapital CROBEX10tr UCITS ETF (ticker: 7CRO) which replicates CROBEX10tr index, while InterCapital SBI TOP ETF (ticker: 7SLO) replicates SBITOP index. The listings were welcomed with a very solid interest on the market, as the turnover of both ETF’s amounted to HRK 11.8m in first two weeks of its trading. To put things into a perspective, 7CRO was the 8th most traded security on ZSE in November (excluding block transactions).
Trading report for November shows a total equity turnover amounted to EUR 33.08m (or HRK 250m). This translates into an average daily turnover of EUR 1.58m, representing a decrease of 5.7%. Of the total value traded in the period in November block transactions of 2 companies (3 shares) account for 26.3%. Precisely, Adris reg. (HRK 31.5m), Adris pref. (HRK 13m) and HT (HRK 21.24m) were traded through block transactions.
If we were to exclude block transactions (and include ETFs), Adris pref. generated HRK 33.3m or 17%, while Valamar Riviera generated HRK 24.3m. HT comes third, accounting for 8.6% (or HRK 16.8m). Next come Ericsson NT and PBZ with HRK 15.1m and HRK 13.3m respectively. As a reminder, in early November, PBZ has announced its delisting from ZSE.
Share Price Performance of Croatian Blue Chips in November (%)
The Croatian equity market, as well as most European markets, noted a very solid performance in November, which could be attributed to the positive vaccine development. To be specific, CROBEX observed the best monthly performance in 2020, increasing by as much as 8.1% and ending the month at 1,702.37 points. We note that such a high monthly increase of the index was last time observed in January of 2013 when CROBEX increased by 8.5%.
As visible in the graph, Tourism companies by far lead the list of gainers as the vaccine news brought positive sentiment in regard to the 2021 summer season. Therefore, Valamar Riviera increased by 21.3% closing November at HRK 27.9 per share. As of end November, Valamar’s share price is still down 28.5% YTD. Next comes Arena Hospitality Group which noted an increase of 15.04%, surpassing the HRK 300 mark. Atlantic Grupa follows with an increase of 11.48%. As of end November, Atlantic is up by 4.6% YTD.
