CROBEX continued its recovery in April, growing by 1.47% to end the month at 2,129.32 points.
The total equity turnover on the Zagreb Stock Exchange amounted to EUR 20.2m (HRK 154.9m), a decrease of 52.5% MoM, and an increase of 15.3% YoY. This would mean that in April, the average daily turnover would amount to EUR 1.01m (HRK 7.75m).
April is also a special month in the sense of the fact that no block turnover happened during the month. As such, the equity value of traded companies represents the „direct trades“ between investors on the stock exchange. Taking this into account means that the total equity value traded with or without block is the aforementioned EUR 20.2m (HRK 154.9m). Out of that, the top 10 most traded stocks had a turnover of EUR 13.9m (HRK 107.1m), representing 66.54% of the total turnover, a decrease of 207 bps MoM.
Breaking this down further, Valamar Riviera generated 12% (or HRK 19.3m), followed by HT with 11.2% (or HRK 18.1m), ZABA with 8.42% (or HRK 13.6m), Podravka with 7.96% (or HRK 12.8m), and Atlantska Plovidba, with 6.52% (or HRK 10.5m). In total, the top 5 most traded stocks generated 46.1% of the total revenue on the stock exchange.
The main index on the ZSE, CROBEX, increased by 1.47% and ended the month with 2,129.32 points. At the same time, CROBEX10 increased by 1.48%, continuing the recovery from March 2022. On a YTD basis, CROBEX and CROBEX10 increased by 2.4% and 1.3%, respectively, while on a YoY basis, they grew by 12.5% and 8.5%, respectively.
Looking at the CROBEX10 constituents themselves, during April, Atlantska Plovidba experienced the largest increase, growing by 14.7%. This can be attributed to the large demand for shipping, and increasing transportation costs, something that is evident in Atlantska Plovidba’s Q1 results. To read more about them, click here. Next up, we have Končar with 9% growth, a company that also recorded solid growth in revenue, EBITDA, and net profit during Q1 2022. Lastly, the only other company to experience solid growth in stock price was Valamar Riviera, which grew by 8.7%.
On the flip side, Atlantic Grupa lost 5.3% of its value, followed by Podravka with -2.6%. In total, 6 out of 10 CROBEX10 companies experienced some form of growth during April, a trend of recovery that was started already in March, after the decline experienced after the Russian invasion of Ukraine.
Performance of CROBEX10 constituents in April 2022 (%)
