Yesterday marked a day of high volatility due to the Ukraine – Russia uncertainty, with the SBITOP declining by as much as -4% intraday, while CROBEX10 declined by -2%.
The volatility on the Croatia and Slovenia stock exchanges has increased significantly yesterday, when on the back of the growing uncertainty tied to the Russia – Ukraine tensions (of which the latest relates to the recognition of the two separatist regions of Donetsk and Luhansk by Russia), CROBEX10 and SBITOP declined by as much as -2% and -4%, respectively.
However, the story doesn’t stop here. By the end of the day, the indices approached 0% change as the news and tensions slowed down, with CROBEX10 and SBITOP ending the day at -1.23% and -1.88%, respectively. If we were to look at the index constituents, however, we can see that some companies were affected a lot more than others.
Starting off with Croatia’s CROBEX10 constituents, we have AD Plastik, which declined by -3.16%, followed by Arena Hospitality Group with -2.72%, Adris with -2.36%, and Podravka, with -2.1%. On the flipside, Atlantska Plovidba was the only company to experience an increase (+0.99%), while HT, Ericsson NT, and Valamar Riviera all had decreases of lower than -1%, that is, -0.53%, -0.8%, and -0.88%, respectively. In total, the market saw a turnover of HRK 10.3m (excluding block trades), out of which, HRK 5.64m was the turnover of stocks in the CROBEX10 index.
Next up, we have Slovenia’s SBITOP constituents. Krka decreased by -4%, followed by Triglav with -1.6%, Luka Koper with -1.57%, Cinkarna Celje with -1.54% and Petrol with -1.53%. On the flip side, Sava Re was the only one to have an increase, growing by +0.36%. In total, the turnover on the LJSE has been EUR 3.55m, out of which, EUR 3.53m was the turnover of stocks in the SBITOP index.
The high volatility experienced on both regional stock exchanges continues the trend that has been seen in the last couple of weeks, a trend of uncertainty and high tensions in Ukraine driving high volatility, which can be especially severe on less liquid regional markets (and stocks).