In October 2022, CROBEX increased slightly by 1.2%, ending the month at 1,929.91 points.
Total equity turnover on ZSE amounted to EUR 45.8m (HRK 345.3m), which represents a significant decrease of 19.2% MoM due to the high base effect and a slight increase of 6.6% YoY. This also means that during the month the average daily turnover amounted to EUR 2.2m (HRK 16.4m).
We note that there was a significant block trade of Sunce Hoteli recorded during October 2022 amounting to HRK 229.2m (EUR 30.4m), which resulted in Sunce Hoteli being the most traded stock during October.
Looking at the top 10 most traded stocks, they had a turnover of EUR 40.8m (HRK 307.3m), which would account for 89% of the total turnover. Breaking this down further, Sunce Hoteli had the highest turnover, at HRK 229.2m (or 66.4%) due to the mentioned block turnover. Sunce Hoteli is followed by Podravka with 7.8% of total equity turnover, Valamar Riviera with 3.4%, Atlantic Grupa with 2.1%. and HT with 2%. This would also mean that the top 5 most traded companies accounted for 81.8% of the total turnover on the exchange.
Meanwhile, the largest index on the ZSE, CROBEX, increased by 1.2% during the month and ended it at 1,928.91 points. At the same time, CROBEX10 also increased by 1.2% and ended the month at 1,140.92 points. Looking at the CROBEX10 constituents’ performance during the month, less than half of the constituents reported a share increase. AD Plastik had noted the largest share price increase of 10.6% due to the very low base effect. AD Plastik is followed by Podravka with a 10.1% increase. Next is Arena Hospitality with 8.7% followed by Valamar Riviera, slightly increasing by 1% during the month. Two constituents at the bottom of the list this month are Končar and Atlantic Grupa, which recorded an MoM decline of 2.9% and 2.3%, respectively.
Performance of CROBEX10 constituents (October 2022, %)
Looking at the YTD performance, we can see a slightly worse picture. We had 9 companies recording an overall decline, with Atlantska Plovidba being the only one to record an increase amounting to 3.8%. The performance of Atlantska Plovidba happened due to the huge demand for shipping in the period. It is due to the fact that trade has recovered at the remarkable rate. But recession fears come with the threat of growing costs and higher risks of falling commodity prices. This has influenced ATPL’s share performance in August, September and October despite good results evidenced. On the other hand, AD Plastik recorded the largest YTD decrease, declining by 50.7%, mostly due to the semiconductor shortage which affected the automotive industry during much of 2021, and is still currently affecting the industry, to a somewhat smaller extent. Combined with the fact that AD Plastik has substantial exposure in the Russian market, after Russia’s invasion of Ukraine, the company recorded some of the largest declines in share price on the Croatia market. Following them, we have Atlantic Grupa and Arena, which decreased by 17.6% and 16.7%, respectively.
Performance of CROBEX10 constituents (Beginning of 2022 – end of October, %)
