On Friday, CROBEX recorded a sharp daily increase of 5.78%, while SBITOP witnessed a 1% increase.

After witnessing one of the highest daily decreases in its history on Thursday (-10.18%), the main index of ZSE somewhat bounced back, recording a sharp daily increase of 5.78% on Friday. It is worth noting that during the Friday’s trading, CROBEX recorded an increase as higher than 9%. Note that such a high daily increase of CROBEX was last time recorded in December of 2010, when the index observed an increase of 8.9%.

The index ended the week at 1,512.15 points, which is still a decrease of 25% YTD and a 16.9% weekly decrease.

Meanwhile, 31 out of 60 traded stocks ended the day in green.

Of the CROBEX constituents, 13 ended the trading day in green, while 2 ended in red. 5 companies recoded a double-digit increase, with Podravka leading the list (+16.6%). Optima Telekom and Arena Hospitality Group follow with an increase of 13.3% and 12.5% respectively.

As a result of the yesterday’s a drop, the P/E of CROBEX went from 11.88 to 12.57.

Turning our attention to the turnover, ZSE observed an extremely high turnover of HRK 105.8m (or EUR 14m), which is roughly 10 times higher compared to the average daily turnover of 2019. It seems that on Friday, investors with a long-term horizon, which have minimal liquidity (outflow) risk were accumulating stocks, which resulted in such a turnover. It is worth noting that 5 block transactions occurred, totaling to HRK 52.9m. Of that, the highest block transaction was Adris (regular) amounting to HRK 35m (at HRK 400 per share).

We are yet to see whether this was an indicator of market stabilization or we are witnessing a dead cat bounce.

Share Price Performance of CROBEX Constituents (13.3.2020) (%)

SLOVENIA

Meanwhile in Slovenia, during the trading session on Friday SBITOP went as low as 5.4%, however bouncing back and ending the day with a 1% increase. So far in 2020, SBITOP recorded a 17.8% decrease and a weekly decrease of 13.7%.

When observing the constituents of the SBITOP, 5 ended the day in green and 5 ended the day in red. Krka observed the highest increase of 5.59%, Sava Re follows with an increase of 2.5%. On the flip side, Luka Koper recorded a decrease of 3.95%, ending the day at EUR 17 per share.

Share Price Performance of SBITOP Constituents (13.3.2020) (%)