CROBEX stayed flat during May, decreasing 2.4% to end the month at 2,078.38 points.

The total equity turnover on the Zagreb Stock Exchange amounted to EUR 22.9m (HRK 172.5m), an increase of 13.3% MoM, and a decrease of 19% YoY. This would mean that in May, the average daily turnover amounted to EUR 1.04m (HRK 7.84m).

The total equity value traded (excluding block transactions) in May amounted to EUR 21m (HRK 158.3m). Out of that, the top 10 most traded stocks had a turnover of EUR 14.8m (or HRK 111.1m), representing 64.43% of the total turnover. Breaking this down further, Valamar Riviera generated the most turnover, 12.80% of the entire turnover, followed by HT with 9.7%, Atlantska Plovidba with 9.3%, SPAN with 6.3%, Atlantic Group with 6.2%, HPB with 5.4%, Podravka with 5.2%, Adris with 4.4%, Ericsson Nikola Tesla with 2.8% and Zagrebačka banka with 2.2%.

The main index on the ZSE, CROBEX, decreased by 0.7% and ended the month with 2,078.81 points. At the same time, CROBEX10 decreased by 3.3%, after surging a bit during April. On a YTD basis, CROBEX10 decreased by 2%, while CROBEX stayed flat. On a YoY basis, CROBEX10 grew by 2.4% and CROBEX grew by 6.7%.

Looking at the CROBEX10 constituents themselves, during May, Atlantic Group experienced the largest increase, growing by 1.9%. Next up, we have Atlantska Plovidba with “only” 1.5% growth. This “modest” growth can be attributed to a very high base effect, as ATPL increased, looking since the beginning of the year, by 44.6% with supporting Q1 results for growth. Atlantic Group and Atlanstska Plovidba are the only two companies reporting an increase in May, as every other constituent decreased in share price.

On the flip side, Arena Hospitality lost 8.4% of its value – but we should emphasize Q3 as the most important one for tourism companies. Arena is followed by HT and Valamar Riviera, with -7.3% and –7.2% MoM decrease. In total, 8 out of 10 CROBEX10 companies experienced a MoM decrease.

Performance of CROBEX10 constituents in May 2022 (%)